D.A. Davidson & CO. Has $7.08 Million Stake in Enbridge Inc. (NYSE:ENB)

D.A. Davidson & CO. decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 174,423 shares of the pipeline company’s stock after selling 13,706 shares during the period. D.A. Davidson & CO.’s holdings in Enbridge were worth $7,083,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Cibc World Market Inc. grew its holdings in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc increased its position in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Enbridge by 27.8% in 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 purchasing an additional 2,668,692 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $42.90 on Thursday. The stock has a 50 day moving average of $41.52 and a two-hundred day moving average of $38.79. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a market capitalization of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the company earned $0.46 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ENB shares. 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. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

About Enbridge

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.