Cerity Partners LLC Purchases 12,154 Shares of Enbridge Inc. (NYSE:ENB)

Cerity Partners LLC boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,814 shares of the pipeline company’s stock after purchasing an additional 12,154 shares during the period. Cerity Partners LLC’s holdings in Enbridge were worth $7,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

ENB has been the subject of several research reports. Jefferies Financial Group cut 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 issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Stock Up 0.5 %

Shares of NYSE ENB opened at $42.90 on Thursday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The stock’s fifty day simple moving average is $41.52 and its two-hundred day simple moving average is $38.79. The stock has a market capitalization of $93.44 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the company earned $0.46 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

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

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.