BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 4,502,115 Shares of Enbridge Inc. (NYSE:ENB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1,514.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,799,345 shares of the pipeline company’s stock after buying an additional 4,502,115 shares during the quarter. Enbridge makes up about 1.2% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 18th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Enbridge were worth $194,938,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in Enbridge by 44.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock valued at $156,098,000 after buying an additional 1,183,821 shares during the last quarter. White Knight Strategic Wealth Advisors LLC lifted its stake in shares of Enbridge by 3.6% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 25,605 shares of the pipeline company’s stock worth $1,040,000 after acquiring an additional 900 shares during the last quarter. Verition Fund Management LLC increased its stake in Enbridge by 13.5% in the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock worth $310,000 after buying an additional 910 shares during the period. Auxier Asset Management bought a new stake in shares of Enbridge during the third quarter valued at approximately $204,000. Finally, Captrust Financial Advisors grew its position in shares of Enbridge by 5.9% during the 3rd quarter. Captrust Financial Advisors now owns 351,010 shares of the pipeline company’s stock worth $14,256,000 after buying an additional 19,458 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

NYSE ENB opened at $43.39 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 52 week low of $32.85 and a 52 week high of $43.70. The business’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $38.86. The firm has a market cap of $94.51 billion, a PE ratio of 20.09, a P/E/G 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 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 business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.23%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note 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.