Intech Investment Management LLC Has $9.54 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Intech Investment Management LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,630 shares of the pipeline company’s stock after selling 56,310 shares during the period. Intech Investment Management LLC’s holdings in Enbridge were worth $9,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Enbridge by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 1,136 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Enbridge during the 1st quarter valued at approximately $1,133,000. Acadian Asset Management LLC acquired a new position in Enbridge during the 1st quarter worth approximately $1,146,000. Ameritas Investment Partners Inc. bought a new position in Enbridge in the 1st quarter valued at approximately $29,000. Finally, Bessemer Group Inc. grew its stake in shares of Enbridge by 94.8% during the first quarter. Bessemer Group Inc. now owns 91,167 shares of the pipeline company’s stock worth $3,295,000 after buying an additional 44,368 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB stock opened at $43.46 on Friday. The company has a market capitalization of $94.65 billion, a P/E ratio of 20.12, a PEG ratio of 4.18 and a beta of 0.93. The company has a fifty day moving average price of $41.34 and a 200-day moving average price of $38.62. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.06 EPS 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 issued 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 yield of 6.22%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.