Transamerica Financial Advisors Inc. Acquires 956 Shares of Enbridge Inc. (NYSE:ENB)

Transamerica Financial Advisors Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 729.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,087 shares of the pipeline company’s stock after acquiring an additional 956 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Enbridge were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of ENB stock opened at $42.90 on Thursday. The stock has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The business’s fifty day moving average is $41.52 and its 200 day moving average is $38.79. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70. 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 (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. Research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is currently 121.76%.

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.