Citigroup Inc. Has $15.47 Million Holdings in Enbridge Inc. (NYSE:ENB)

Citigroup Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 380,438 shares of the pipeline company’s stock after selling 9,107 shares during the quarter. Citigroup Inc.’s holdings in Enbridge were worth $15,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Pathway Financial Advisers LLC raised its holdings in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares during the period. Cibc World Market Inc. raised its holdings in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after buying an additional 2,668,692 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Trading Up 0.5 %

Shares of NYSE ENB opened at $42.90 on Thursday. The stock has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The business has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $38.79. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business posted $0.46 EPS. On average, research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. Enbridge’s payout ratio is presently 121.76%.

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.