Today, Eqis Capital Management Inc. Takes Position in Enbridge Inc. (ENB)

Today, Eqis Capital Management Inc. Takes Position in Enbridge Inc. (ENB)

Eqis Capital Management Inc. bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 7,583 shares of the company’s stock, valued at approximately $335,000.

Several other institutional investors have also added to or reduced their stakes in ENB. Envestnet Asset Management Inc. raised its position in 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 last quarter. Nexus Investment Management Inc. raised its position in 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 last quarter. Cardinal Capital Management Inc. raised its position in 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 last quarter. British Columbia Investment Management Corp raised its position in 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 last quarter. Finally, Atria Investments LLC acquired a new position in Enbridge during the second quarter valued at about $220,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Shares of Enbridge Inc. (NYSE:ENB) traded down 0.37% during midday trading on Friday, hitting $42.79. 907,956 shares of the stock were exchanged. The stock has a market cap of $40.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.62. The firm’s 50-day moving average is $42.88 and its 200-day moving average is $41.99. Enbridge Inc. has a 12 month low of $27.43 and a 12 month high of $45.77.

Enbridge (NYSE:ENB) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) 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 quarter in the prior year, the company earned $0.47 EPS. Equities research analysts predict that Enbridge Inc. will post $1.72 earnings per share for the current year.

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

ENB has been the subject of several recent research reports. Scotiabank reiterated an “outperform” rating and set a $61.00 target price on shares of Enbridge in a report on Wednesday, August 3rd. TD Securities restated a “buy” rating and issued a $59.00 price objective (up from $58.00) on shares of Enbridge in a report on Wednesday, August 3rd. Zacks Investment Research upgraded 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. started 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 restated a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average target price of $56.75.

Enbridge Company Profile

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.

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