38,250 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Code Waechter LLC

Code Waechter LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,250 shares of the pipeline company’s stock, valued at approximately $1,553,000. Enbridge accounts for 1.5% of Code Waechter LLC’s portfolio, making the stock its 13th biggest position.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. lifted its position in 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 worth $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $51.50.

Enbridge Trading Up 0.5 %

Shares of ENB stock traded up $0.19 during trading hours on Friday, reaching $41.07. The company had a trading volume of 2,390,614 shares, compared to its average volume of 5,023,815. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $41.35. The company has a 50 day moving average of $40.05 and a 200 day moving average of $37.33. The firm has a market cap of $87.64 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 3.94 and a beta of 0.93.

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

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.