Assenagon Asset Management S.A. Acquires 12,431 Shares of Enbridge Inc. (NYSE:ENB)

Assenagon Asset Management S.A. grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,098 shares of the pipeline company’s stock after purchasing an additional 12,431 shares during the period. Assenagon Asset Management S.A.’s holdings in Enbridge were worth $3,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC grew its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter worth $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the first quarter worth $29,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Trading Up 0.5 %

Enbridge stock opened at $40.60 on Thursday. Enbridge Inc. has a 12-month low of $31.68 and a 12-month high of $42.16. The firm has a market capitalization of $86.64 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 4.00 and a beta of 0.93. The firm has a 50 day moving average of $40.69 and a 200 day moving average of $37.87. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm 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 company posted $0.51 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current year.

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.