Prossimo Advisors LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Prossimo Advisors LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 5,027 shares of the pipeline company’s stock, valued at approximately $204,000.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its holdings in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares during the period. M&G Plc acquired a new position in Enbridge during the first quarter worth about $152,843,000. Cibc World Market Inc. grew its holdings in 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 period. Canada Pension Plan Investment Board grew its holdings in 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 period. Finally, National Bank of Canada FI grew its holdings 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 worth $818,370,000 after acquiring an additional 2,203,123 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Trading Up 0.0 %

NYSE:ENB opened at $40.42 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 1-year low of $32.65 and a 1-year high of $42.16. The firm has a market capitalization of $88.02 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. The stock has a fifty day simple moving average of $40.73 and a 200 day simple moving average of $37.97.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the company posted $0.51 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.07 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.69%. Enbridge’s dividend payout ratio (DPR) is 137.50%.

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.