Enbridge Inc $ENB Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 135.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,030 shares of the pipeline company’s stock after buying an additional 12,089 shares during the quarter. QRG Capital Management Inc.’s holdings in Enbridge were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares in the last quarter. TD Asset Management Inc increased its stake in Enbridge by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares in the last quarter. Norges Bank acquired a new position in Enbridge during the second quarter worth $1,113,368,000. Legal & General Group Plc boosted its position in Enbridge by 1.1% during the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after purchasing an additional 207,243 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after purchasing an additional 2,989,992 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Royal Bank Of Canada upped their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $47.11 on Wednesday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The firm has a market cap of $102.79 billion, a price-to-earnings ratio of 25.89 and a beta of 0.68. The company’s 50-day moving average is $47.43 and its two-hundred day moving average is $47.39. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period in the prior year, the firm earned $0.55 EPS. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is currently 147.80%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.