Highland Capital Management LLC Buys New Shares in Enbridge Inc. (NYSE:ENB)

Highland Capital Management LLC bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,054 shares of the pipeline company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Enbridge by 1.5% during 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 holdings in Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after acquiring an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Enbridge by 3.9% in the 1st 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 during the last quarter. Cibc World Market Inc. grew its holdings in 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 last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in 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 worth $821,331,000 after acquiring an additional 827,540 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Trading Down 0.5 %

NYSE:ENB opened at $40.94 on Monday. The company has a 50-day moving average price of $40.60 and a 200-day moving average price of $37.76. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock has a market cap of $87.36 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the company posted $0.51 EPS. Equities analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

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

Enbridge 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.