Quantinno Capital Management LP Increases Stake in Enbridge Inc. (NYSE:ENB)

Quantinno Capital Management LP raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,610 shares of the pipeline company’s stock after purchasing an additional 8,349 shares during the period. Quantinno Capital Management LP’s holdings in Enbridge were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ENB. Swiss National Bank boosted its holdings in shares of Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the period. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Down 0.7 %

ENB stock opened at $42.05 on Friday. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The stock has a market capitalization of $91.59 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a fifty day moving average of $41.97 and a 200-day moving average of $39.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the firm posted $0.46 EPS. As a group, analysts expect that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.37%. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Enbridge 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.