Intech Investment Management LLC Has $9.54 Million Position in Enbridge Inc. (NYSE:ENB)

Intech Investment Management LLC cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234,630 shares of the pipeline company’s stock after selling 56,310 shares during the period. Intech Investment Management LLC’s holdings in Enbridge were worth $9,542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. raised its stake in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. CIBC Asset Management Inc lifted its stake in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after buying an additional 827,540 shares during the period. Toronto Dominion Bank increased its position in shares of Enbridge by 3.6% during the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the period. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENB. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Up 1.6 %

Shares of NYSE:ENB opened at $43.46 on Friday. The stock has a market capitalization of $94.65 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company’s 50-day moving average price is $41.34 and its two-hundred day moving average price is $38.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.22%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

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.