ProShare Advisors LLC Has $10.47 Million Stake in Enbridge Inc $ENB

ProShare Advisors LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,854 shares of the pipeline company’s stock after purchasing an additional 12,143 shares during the period. ProShare Advisors LLC’s holdings in Enbridge were worth $10,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dagco Inc. bought a new stake in shares of Enbridge in the first quarter valued at about $25,000. Whipplewood Advisors LLC raised its position in shares of Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after buying an additional 308 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Enbridge in the first quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new position in Enbridge during the 2nd quarter worth $36,000. Finally, Private Wealth Asset Management LLC increased its stake in Enbridge by 289.7% during the 2nd quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 620 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ENB shares. Royal Bank Of Canada increased their target price on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $63.00.

Enbridge Stock Up 1.0%

Shares of NYSE ENB opened at $48.77 on Thursday. The company has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $46.81. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a market cap of $106.37 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the company posted $0.55 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is presently 147.25%.

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.