Citizens Financial Group Inc. RI Takes Position in Enbridge Inc. (NYSE:ENB)

Citizens Financial Group Inc. RI purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,080 shares of the pipeline company’s stock, valued at approximately $206,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its position 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 worth $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Enbridge by 8.8% during the third 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 lifted its holdings 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 buying an additional 13,515 shares during the last quarter. 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 acquiring an additional 936,863 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after acquiring an additional 19,344 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE ENB opened at $43.26 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $94.22 billion, a PE ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The business’s fifty day moving average price is $41.40 and its two-hundred day moving average price is $38.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations 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 company earned $0.46 EPS. On average, research analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.25%. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

A number of research firms have commented on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.