Commerce Bank Has $7.54 Million Stake in Enbridge Inc. (NYSE:ENB)

Commerce Bank increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 185,642 shares of the pipeline company’s stock after purchasing an additional 2,584 shares during the period. Commerce Bank’s holdings in Enbridge were worth $7,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cibc World Market Inc. grew its holdings in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Enbridge by 3.7% in the second 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 in the last quarter. Toronto Dominion Bank raised its stake in Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after buying an additional 644,526 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Enbridge by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,003,828 shares of the pipeline company’s stock worth $434,300,000 after purchasing an additional 529,913 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Stock Performance

NYSE ENB opened at $43.46 on Friday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.55. The company’s 50 day simple moving average is $41.34 and its two-hundred day simple moving average is $38.62. 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 stock has a market capitalization of $94.65 billion, a PE ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. Analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal 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 issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.22%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

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.