Enbridge Inc $ENB Stock Bought by Pacifica Partners Inc.

Pacifica Partners Inc. increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.5% in the third quarter, Holdings Channel reports. The institutional investor owned 90,968 shares of the pipeline company’s stock after acquiring an additional 17,281 shares during the quarter. Enbridge accounts for about 1.3% of Pacifica Partners Inc.’s portfolio, making the stock its 26th largest position. Pacifica Partners Inc.’s holdings in Enbridge were worth $4,196,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Arlington Trust Co LLC increased its holdings in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 267 shares during the last quarter. Quintet Private Bank Europe S.A. raised its position in shares of Enbridge by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. City Holding Co. lifted its stake in Enbridge by 121.5% during the second quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 356 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in Enbridge by 99.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 345 shares during the last quarter. Finally, Financial Freedom LLC boosted its holdings in Enbridge by 187.1% in the first quarter. Financial Freedom LLC now owns 755 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 492 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $46.55 on Friday. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a market cap of $103.74 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 5.44 and a beta of 0.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a fifty day moving average of $49.49 and a 200-day moving average of $53.03.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a C$0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 8.3%. Enbridge’s dividend payout ratio is 147.06%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Enbridge in a research note on Wednesday, September 30th. They set a “neutral” rating and a $50.00 target price for the company. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. TD Securities started coverage on shares of Enbridge in a report on Monday, September 14th. They issued a “buy” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Finally, BMO Capital Markets upgraded Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 target price for the company in a research note on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $65.88.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.