Pathway Financial Advisers LLC Acquires 4,463,335 Shares of Enbridge Inc. (NYSE:ENB)

Pathway Financial Advisers LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4,120.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,571,669 shares of the pipeline company’s stock after acquiring an additional 4,463,335 shares during the period. Enbridge accounts for 1.8% of Pathway Financial Advisers LLC’s portfolio, making the stock its 18th largest holding. Pathway Financial Advisers LLC owned 0.21% of Enbridge worth $185,655,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ENB. Vanguard Group Inc. raised its position in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares during the period. TD Asset Management Inc raised its position in shares of Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after purchasing an additional 337,729 shares during the period. 1832 Asset Management L.P. raised its position in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the period. Cibc World Market Inc. raised its position in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $40.42 on Wednesday. Enbridge Inc. has a 52 week low of $31.47 and a 52 week high of $42.16. The firm has a fifty day simple moving average of $40.66 and a two-hundred day simple moving average of $37.85. The stock has a market capitalization of $86.24 billion, a P/E ratio of 20.52, a PEG ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.