Bleakley Financial Group LLC Purchases 1,313 Shares of Enbridge Inc. (NYSE:ENB)

Bleakley Financial Group LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,407 shares of the pipeline company’s stock after buying an additional 1,313 shares during the period. Bleakley Financial Group LLC’s holdings in Enbridge were worth $788,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc grew its position in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after acquiring an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after acquiring an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Enbridge by 3.7% in 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 purchasing an additional 827,540 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.98 on Monday. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $42.03. The stock’s fifty day simple moving average is $40.38 and its 200 day simple moving average is $37.55. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $89.58 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.37%. Enbridge’s dividend payout ratio is 134.01%.

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.