Public Sector Pension Investment Board Sells 2,935 Shares of Enbridge Inc. (NYSE:ENB)

Public Sector Pension Investment Board reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,240 shares of the pipeline company’s stock after selling 2,935 shares during the quarter. Public Sector Pension Investment Board’s holdings in Enbridge were worth $11,600,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cibc World Market Inc. boosted its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. CIBC Asset Management Inc boosted its position in Enbridge by 4.0% during the 3rd 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 during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares during the period. Toronto Dominion Bank boosted its position in Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after buying an additional 644,526 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after buying an additional 2,668,692 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.5 %

Enbridge stock opened at $42.90 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The firm’s fifty day moving average is $41.57 and its 200 day moving average is $38.82. The company has a market capitalization of $93.44 billion, a PE ratio of 19.86, a PEG ratio of 4.22 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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 business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.04 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. 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 6.30%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

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

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.