Enbridge Inc. (NYSE:ENB) Shares Acquired by MFA Wealth Advisors LLC

MFA Wealth Advisors LLC increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 55.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 784 shares of the pipeline company’s stock after purchasing an additional 280 shares during the period. MFA Wealth Advisors LLC’s holdings in Enbridge were worth $32,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. U.S. Capital Wealth Advisors LLC grew its stake in Enbridge by 29.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock worth $6,810,000 after purchasing an additional 38,231 shares in the last quarter. Greenleaf Trust boosted its stake in Enbridge by 5.7% in the third quarter. Greenleaf Trust now owns 24,102 shares of the pipeline company’s stock valued at $979,000 after acquiring an additional 1,297 shares during the period. Albert D Mason Inc. boosted its stake in Enbridge by 3.7% in the third quarter. Albert D Mason Inc. now owns 22,637 shares of the pipeline company’s stock valued at $919,000 after acquiring an additional 811 shares during the period. Private Advisor Group LLC boosted its stake in Enbridge by 18.2% in the third quarter. Private Advisor Group LLC now owns 122,489 shares of the pipeline company’s stock valued at $4,974,000 after acquiring an additional 18,891 shares during the period. Finally, Symphony Financial Ltd. Co. acquired a new position in Enbridge in the third quarter valued at approximately $336,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

Shares of ENB stock opened at $41.22 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average of $40.50 and a two-hundred day moving average of $37.66. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a market cap of $87.96 billion, a P/E ratio of 20.92, a PEG ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for 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 in the previous year, the company posted $0.51 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

About Enbridge

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.