Brown Brothers Harriman & Co. Acquires 333 Shares of Enbridge Inc. (NYSE:ENB)

Brown Brothers Harriman & Co. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.9% in the third quarter, HoldingsChannel.com reports. The firm owned 8,912 shares of the pipeline company’s stock after buying an additional 333 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Enbridge were worth $362,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in Enbridge by 1.9% in the third quarter. Independent Advisor Alliance now owns 92,758 shares of the pipeline company’s stock worth $3,767,000 after purchasing an additional 1,725 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in Enbridge by 8.8% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 20,780 shares of the pipeline company’s stock valued at $845,000 after purchasing an additional 1,675 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Enbridge by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after buying an additional 256 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Enbridge by 57.9% during the third quarter. Larson Financial Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 1,965 shares during the last quarter. Finally, WESPAC Advisors LLC lifted its holdings in shares of Enbridge by 13.7% during the 3rd quarter. WESPAC Advisors LLC now owns 16,239 shares of the pipeline company’s stock valued at $659,000 after buying an additional 1,953 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Price Performance

NYSE:ENB opened at $42.90 on Thursday. The firm has a market capitalization of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The business has a 50 day simple moving average of $41.52 and a 200-day simple moving average of $38.79. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is 121.76%.

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.