Foundations Investment Advisors LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

Foundations Investment Advisors LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.3% in the third quarter, HoldingsChannel.com reports. The firm owned 47,691 shares of the pipeline company’s stock after purchasing an additional 5,979 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Enbridge were worth $1,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&G Plc bought a new position in shares of Enbridge during the first quarter worth $152,843,000. Cibc World Market Inc. boosted its position in shares of Enbridge by 12.8% during 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. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. National Bank of Canada FI lifted its position 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 purchasing an additional 2,203,123 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position 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 valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.6 %

ENB stock opened at $41.22 on Thursday. The company has a market capitalization of $87.96 billion, a PE ratio of 20.92, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.16. The firm’s 50-day moving average is $40.50 and its 200 day moving average is $37.66. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

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

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is currently 134.01%.

Analysts Set New Price Targets

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

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.