Enbridge Inc. (NYSE:ENB) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 834,221 shares of the pipeline company’s stock after acquiring an additional 17,618 shares during the period. Janney Montgomery Scott LLC’s holdings in Enbridge were worth $33,878,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares during the period. TD Asset Management Inc increased its holdings 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 purchasing an additional 337,729 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% during 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 purchasing an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

Shares of NYSE ENB opened at $40.42 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market capitalization of $88.02 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 3.91 and a beta of 0.93. The firm’s 50 day simple moving average is $40.73 and its 200-day simple moving average is $38.00. Enbridge Inc. has a 12 month low of $32.65 and a 12 month high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business earned $0.51 earnings per share. Analysts expect that Enbridge Inc. will post 2.07 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.69%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 137.50%.

About Enbridge

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.