West Family Investments Inc. Takes Position in Enbridge Inc. (NYSE:ENB)

West Family Investments Inc. bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,578 shares of the pipeline company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in shares of Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after acquiring an additional 1,136 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Enbridge in the 1st quarter worth about $1,133,000. Acadian Asset Management LLC acquired a new stake in Enbridge during the 1st quarter worth about $1,146,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the first quarter valued at about $29,000. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Enbridge by 89.9% in the first quarter. UniSuper Management Pty Ltd now owns 30,000 shares of the pipeline company’s stock worth $1,085,000 after buying an additional 14,200 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ENB shares. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Up 0.9 %

ENB stock opened at $42.95 on Wednesday. The company has a 50 day moving average of $41.23 and a two-hundred day moving average of $38.56. The company has a market cap of $93.55 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.31. 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 (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm earned $0.46 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.