Pathway Financial Advisers LLC Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Pathway Financial Advisers LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4,120.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,571,669 shares of the pipeline company’s stock after buying an additional 4,463,335 shares during the quarter. Enbridge accounts for approximately 1.2% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 25th biggest holding. Pathway Financial Advisers LLC’s holdings in Enbridge were worth $185,655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares in the last quarter. TD Asset Management Inc raised its stake in Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after acquiring an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after acquiring an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. lifted its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.19 on Friday, reaching $40.94. The company’s stock had a trading volume of 3,119,480 shares, compared to its average volume of 2,646,088. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.16. The stock has a market capitalization of $89.16 billion, a P/E ratio of 21.32, a PEG ratio of 4.00 and a beta of 0.93. The stock’s 50-day moving average is $40.55 and its two-hundred day moving average is $37.68. 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 quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the firm earned $0.51 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 137.50%.

Wall Street Analyst Weigh In

ENB has been the subject of several research reports. Jefferies Financial Group downgraded 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. They issued an “equal weight” rating for the company.

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.