Enbridge Inc. (NYSE:ENB) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 43.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,524 shares of the pipeline company’s stock after selling 5,752 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Enbridge were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Pathway Financial Advisers LLC raised its stake in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the period. Cibc World Market Inc. raised its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after buying an additional 1,472,789 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

ENB stock opened at $43.38 on Monday. The company has a market capitalization of $94.48 billion, a P/E ratio of 20.08, a PEG ratio of 4.26 and a beta of 0.93. The firm has a 50 day simple moving average of $41.62 and a 200-day simple moving average of $38.89. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 quarter in the previous year, the firm earned $0.46 EPS. On average, equities research analysts predict that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENB. 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 shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company.

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.