Raymond James Trust N.A. Has $2.72 Million Position in Enbridge Inc. (NYSE:ENB)

Raymond James Trust N.A. raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,006 shares of the pipeline company’s stock after acquiring an additional 4,593 shares during the period. Raymond James Trust N.A.’s holdings in Enbridge were worth $2,721,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ENB. Pathway Financial Advisers LLC raised its stake in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. Cibc World Market Inc. increased its holdings in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after buying an additional 2,668,692 shares during the period. Kayne Anderson Capital Advisors LP raised its position in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after buying an additional 1,472,789 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of 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 acquiring an additional 936,863 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.5 %

Shares of Enbridge stock opened at $43.26 on Friday. The firm has a market capitalization of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.23 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. The firm’s 50 day moving average is $41.40 and its 200 day moving average is $38.68. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business earned $0.46 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

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

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.