Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,972,036 shares of the company’s stock after buying an additional 139,015 shares during the period. Enbridge comprises 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 24th largest position. Duff & Phelps Investment Management Co. owned about 0.21% of Enbridge worth $87,223,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Enbridge by 142.6% in the first quarter. Envestnet Asset Management Inc. now owns 29,064 shares of the company’s stock valued at $1,131,000 after buying an additional 17,085 shares during the period. Nexus Investment Management Inc. increased its position in shares of Enbridge by 0.6% in the second quarter. Nexus Investment Management Inc. now owns 230,775 shares of the company’s stock valued at $9,709,000 after buying an additional 1,300 shares during the period. Cardinal Capital Management Inc. increased its position in shares of Enbridge by 22.1% in the second quarter. Cardinal Capital Management Inc. now owns 542,233 shares of the company’s stock valued at $22,812,000 after buying an additional 98,199 shares during the period. British Columbia Investment Management Corp increased its position in shares of Enbridge by 0.8% in the second quarter. British Columbia Investment Management Corp now owns 140,303 shares of the company’s stock valued at $4,576,000 after buying an additional 1,100 shares during the period. Finally, Atria Investments LLC purchased a new position in shares of Enbridge during the second quarter valued at about $220,000. 71.53% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Shares of Enbridge Inc. (NYSE:ENB) opened at 42.77 on Tuesday. The firm has a market cap of $40.14 billion, a P/E ratio of 29.25 and a beta of 0.62. Enbridge Inc. has a 12-month low of $27.43 and a 12-month high of $45.77. The firm’s 50-day moving average price is $42.87 and its 200 day moving average price is $42.04.

Enbridge (NYSE:ENB) last announced its earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. During the same period last year, the business earned $0.47 earnings per share. On average, equities analysts expect that Enbridge Inc. will post $1.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.3956 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.70%. Enbridge’s dividend payout ratio (DPR) is presently 105.33%.

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Several equities research analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Enbridge in a report on Wednesday, August 3rd. TD Securities reaffirmed a “buy” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Enbridge in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Wednesday, August 3rd. Bank of America Corp. assumed coverage on shares of Enbridge in a report on Thursday, September 1st. They issued a “neutral” rating and a $56.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Buy” and a consensus target price of $56.75.

About Enbridge

Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.

5 Day Chart for NYSE:ENB

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