Insight Folios Inc Increases Holdings in Enbridge Inc. (NYSE:ENB)

by · The Markets Daily

Insight Folios Inc increased its position in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,903 shares of the pipeline company’s stock after buying an additional 9,260 shares during the period. Enbridge comprises approximately 2.6% of Insight Folios Inc’s holdings, making the stock its 17th biggest holding. Insight Folios Inc’s holdings in Enbridge were worth $7,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Pathway Financial Advisers LLC increased its stake in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares during the last quarter. M&G Plc acquired a new stake in Enbridge in the first quarter worth about $152,843,000. Cibc World Market Inc. lifted its stake in shares of Enbridge by 12.8% in 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 acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its stake in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Enbridge by 11.3% during the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after buying an additional 2,203,123 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB opened at $40.94 on Monday. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.16. 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 $87.36 billion, a P/E ratio of 20.78, a PEG ratio of 4.00 and a beta of 0.93. The stock has a fifty day moving average of $40.60 and a 200-day moving average of $37.76.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the company earned $0.51 EPS. Equities analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Analyst Ratings Changes

ENB has been the topic of several recent research reports. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Read Our Latest Stock Analysis on ENB

Enbridge Profile

(Free Report)

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.

See Also

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