First Trust Advisors LP raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,989 shares of the company’s stock after buying an additional 36,945 shares during the period. First Trust Advisors LP’s holdings in Enbridge were worth $13,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ENB. Capital International Investors raised its stake in shares of Enbridge by 39.5% in the second quarter. Capital International Investors now owns 28,157,251 shares of the company’s stock valued at $1,192,772,000 after buying an additional 7,979,033 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Enbridge during the second quarter valued at about $180,874,000. Emerald Acquisition Ltd. acquired a new stake in shares of Enbridge during the second quarter valued at about $158,310,000. Vanguard Group Inc. raised its stake in shares of Enbridge by 11.4% in the second quarter. Vanguard Group Inc. now owns 19,599,682 shares of the company’s stock valued at $830,242,000 after buying an additional 2,004,941 shares during the period. Finally, FMR LLC raised its stake in shares of Enbridge by 6.9% in the second quarter. FMR LLC now owns 28,050,056 shares of the company’s stock valued at $1,188,265,000 after buying an additional 1,800,780 shares during the period. Institutional investors own 71.53% of the company’s stock.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Shares of Enbridge Inc. (NYSE:ENB) traded up 0.31% during midday trading on Wednesday, reaching $42.29. 1,625,081 shares of the company traded hands. Enbridge Inc. has a 1-year low of $27.43 and a 1-year high of $45.77. The firm has a market capitalization of $39.69 billion, a PE ratio of 28.93 and a beta of 0.62. The stock has a 50 day moving average price of $42.87 and a 200 day moving average price of $42.04.

Enbridge (NYSE:ENB) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.02. Enbridge had a return on equity of 14.67% and a net margin of 5.99%. During the same quarter last year, the firm posted $0.47 EPS. Analysts expect that Enbridge Inc. will post $1.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.3956 per share. The ex-dividend date is Thursday, November 10th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.75%. Enbridge’s payout ratio is 105.33%.

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ENB has been the topic of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. Goldman Sachs Group Inc. raised shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $48.00 in a report on Wednesday, September 7th. Bank of America Corp. initiated coverage on shares of Enbridge in a report on Thursday, September 1st. They set a “neutral” rating and a $56.00 price target on the stock. Zacks Investment Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 8th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $61.00 price target on shares of Enbridge in a report on Sunday, November 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Enbridge currently has a consensus rating of “Buy” and a consensus target price of $56.75.

About Enbridge

Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.

5 Day Chart for NYSE:ENB

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