Pekin Hardy Strauss Inc. Increases Stake in Enbridge Inc. (NYSE:ENB)

Pekin Hardy Strauss Inc. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,780 shares of the pipeline company’s stock after purchasing an additional 1,675 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Enbridge were worth $845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge in the second quarter worth $28,000. Grove Bank & Trust grew its stake in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge in the 3rd quarter worth about $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $43.26 on Monday. The company’s 50-day simple moving average is $41.40 and its two-hundred day simple moving average is $38.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $94.22 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.21 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

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

Enbridge Company 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.