Thompson Davis & CO. Inc. Purchases New Stake in Enbridge Inc $ENB

Thompson Davis & CO. Inc. acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,995 shares of the pipeline company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Vanguard Group Inc. increased its stake in shares of Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after purchasing an additional 1,569,879 shares during the last quarter. GQG Partners LLC grew its holdings in Enbridge by 1.5% during 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 increased its position in Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after buying an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Enbridge by 137.9% in the first 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 last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after buying an additional 2,989,992 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Enbridge stock opened at $48.28 on Friday. 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. The firm has a market capitalization of $105.29 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The firm’s 50 day simple moving average is $48.28 and its 200 day simple moving average is $46.82.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business posted $0.55 EPS. As a group, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is 147.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ENB shares. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of $63.00.

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.