Tectonic Advisors LLC Purchases 26,251 Shares of Enbridge Inc. (NYSE:ENB)

Tectonic Advisors LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,294 shares of the pipeline company’s stock after purchasing an additional 26,251 shares during the quarter. Enbridge comprises 0.6% of Tectonic Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Tectonic Advisors LLC’s holdings in Enbridge were worth $9,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC raised its stake 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 during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the second quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge during the second quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the first quarter worth about $29,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Trading Down 0.2 %

NYSE:ENB opened at $41.15 on Friday. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. 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 firm has a market cap of $87.81 billion, a P/E ratio of 20.89, a P/E/G ratio of 3.94 and a beta of 0.93. The firm has a 50-day simple moving average of $40.50 and a 200-day simple moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the firm earned $0.51 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

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

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.