apricus wealth LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

apricus wealth LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,395 shares of the pipeline company’s stock after buying an additional 495 shares during the period. apricus wealth LLC’s holdings in Enbridge were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENB. First PREMIER Bank grew its position in Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Grove Bank & Trust grew its position in Enbridge by 56.7% in the 3rd 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 position in Enbridge by 55.6% in the 3rd 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. Rockwood Wealth Management LLC grew its position in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $41.15 on Friday. The stock has a 50-day simple moving average of $40.50 and a 200-day simple moving average of $37.66. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $87.81 billion, a PE ratio of 20.89, a PEG ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. On average, analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is presently 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.