Enbridge Inc. (NYSE:ENB) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,758 shares of the pipeline company’s stock after buying an additional 1,725 shares during the quarter. Independent Advisor Alliance’s holdings in Enbridge were worth $3,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the second quarter worth about $28,000. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Enbridge during the third quarter worth approximately $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $42.97 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. The business has a 50 day moving average price of $41.43 and a 200 day moving average price of $38.73. The stock has a market cap of $93.58 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 4.21 and a beta of 0.93.

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 return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.29%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group cut 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.