Norges Bank Acquires Shares of 24,536,971 Enbridge Inc $ENB

Norges Bank bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,536,971 shares of the pipeline company’s stock, valued at approximately $1,113,368,000. Norges Bank owned 1.13% of Enbridge as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Enbridge in the 4th quarter valued at approximately $261,000. Banque Cantonale Vaudoise bought a new stake in shares of Enbridge during the 1st quarter valued at $225,000. Arkadios Wealth Advisors raised its stake in shares of Enbridge by 12.0% during the 1st quarter. Arkadios Wealth Advisors now owns 11,796 shares of the pipeline company’s stock valued at $523,000 after purchasing an additional 1,267 shares during the period. Natixis Advisors LLC lifted its holdings in Enbridge by 154.1% during the 1st quarter. Natixis Advisors LLC now owns 661,542 shares of the pipeline company’s stock worth $29,313,000 after purchasing an additional 401,157 shares in the last quarter. Finally, Davis R M Inc. boosted its stake in Enbridge by 12.0% in the 1st quarter. Davis R M Inc. now owns 5,598 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.3%

Shares of Enbridge stock opened at $48.65 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a market cap of $106.12 billion, a PE ratio of 23.97, a PEG ratio of 4.31 and a beta of 0.76. The company has a 50 day simple moving average of $48.11 and a two-hundred day simple moving average of $46.95.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.7%. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ENB shares. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target 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.