Murchinson Ltd. Purchases New Stake in Enbridge Inc. (NYSE:ENB)

Murchinson Ltd. purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,080 shares of the pipeline company’s stock, valued at approximately $328,000.

Other hedge funds have also bought and sold shares of the company. Cibc World Market Inc. increased its stake in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $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 valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the period. Toronto Dominion Bank lifted its holdings in Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of ENB opened at $43.49 on Wednesday. The firm has a market capitalization of $94.72 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The stock’s fifty day moving average is $41.73 and its 200-day moving average is $38.98. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.88. 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 posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were issued a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.22%. Enbridge’s dividend payout ratio is 121.76%.

Analyst Ratings Changes

Several brokerages recently issued reports on ENB. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge 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.