Swiss National Bank Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Swiss National Bank raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,585,231 shares of the pipeline company’s stock after purchasing an additional 207,200 shares during the period. Swiss National Bank’s holdings in Enbridge were worth $267,935,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares in the last quarter. Pinnacle Financial Partners Inc increased its holdings in Enbridge by 8.8% during the 3rd 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 increased its holdings in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. Lindbrook Capital LLC increased its holdings in 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 acquiring an additional 19,344 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings 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 buying an additional 936,863 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE ENB opened at $42.18 on Friday. The company has a market cap of $91.86 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.76 and a 12 month high of $43.31. 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 company has a 50-day simple moving average of $41.15 and a 200-day simple moving average of $38.45.

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. 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 analysts’ expectations of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ENB. Jefferies Financial Group downgraded shares of 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 report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of 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.