Scotia Capital Inc. Boosts Stake in Enbridge Inc $ENB

Scotia Capital Inc. grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 14,069,558 shares of the pipeline company’s stock after purchasing an additional 37,589 shares during the quarter. Enbridge accounts for 3.0% of Scotia Capital Inc.’s holdings, making the stock its 7th largest holding. Scotia Capital Inc.’s holdings in Enbridge were worth $635,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Enbridge by 3.5% during the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. GQG Partners LLC raised its position in shares of Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc lifted its stake in shares of Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after buying an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Enbridge by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after buying an additional 207,243 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $48.04 on Friday. The stock’s 50-day moving average is $48.13 and its 200 day moving average is $46.92. The stock has a market cap of $104.80 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the prior year, the company earned $0.55 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. Enbridge’s dividend payout ratio is currently 147.80%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ENB. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Royal Bank Of Canada raised their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Finally, Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

About Enbridge

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.