Enbridge Inc. (NYSE:ENB) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,702 shares of the pipeline company’s stock after acquiring an additional 478 shares during the period. First Trust Direct Indexing L.P.’s holdings in Enbridge were worth $841,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ENB. Vanguard Group Inc. raised its position in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc raised its position in shares of Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after purchasing an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. raised its position in shares of 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 purchasing an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake 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 valued at $821,331,000 after acquiring an additional 827,540 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several research reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge Stock Performance

Enbridge stock opened at $40.42 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market cap of $88.02 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. The firm has a 50 day simple moving average of $40.73 and a 200-day simple moving average of $37.93. Enbridge Inc. has a 1-year low of $32.65 and a 1-year high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company posted $0.51 EPS. On average, analysts expect that Enbridge Inc. will post 2.07 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. 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. This represents a $2.70 dividend on an annualized basis and a yield of 6.69%. Enbridge’s dividend payout ratio is 137.50%.

Enbridge Company 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.