Caisse DE Depot ET Placement DU Quebec Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Caisse DE Depot ET Placement DU Quebec increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 44.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,838,371 shares of the pipeline company’s stock after buying an additional 1,183,821 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of Enbridge worth $156,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ENB. Swiss National Bank raised its holdings in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after purchasing an additional 19,344 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

Enbridge stock opened at $43.39 on Friday. The business’s 50-day moving average price is $41.62 and its 200 day moving average price is $38.86. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $94.51 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 4.22 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.