SpiderRock Advisors LLC Buys 2,594 Shares of Enbridge Inc. (NYSE:ENB)

SpiderRock Advisors LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,615 shares of the pipeline company’s stock after buying an additional 2,594 shares during the period. SpiderRock Advisors LLC’s holdings in Enbridge were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Enbridge by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after purchasing an additional 1,136 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Enbridge during the first quarter valued at about $347,000. Concurrent Investment Advisors LLC raised its holdings in shares of Enbridge by 3.2% in the first quarter. Concurrent Investment Advisors LLC now owns 24,193 shares of the pipeline company’s stock worth $875,000 after buying an additional 740 shares during the last quarter. Sei Investments Co. lifted its position in Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after acquiring an additional 15,650 shares during the period. Finally, US Bancorp DE boosted its position in Enbridge by 21.2% in the first quarter. US Bancorp DE now owns 461,607 shares of the pipeline company’s stock valued at $16,701,000 after buying an additional 80,711 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Stock Up 1.1 %

Shares of NYSE:ENB opened at $42.79 on Tuesday. The firm’s 50-day moving average is $40.92 and its two-hundred day moving average is $38.23. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $42.89. The firm has a market capitalization of $93.17 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the firm posted $0.46 EPS. Analysts predict 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. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

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.