Cigna Investments Inc. New Buys 1,003 Shares of Enbridge Inc. (NYSE:ENB)

Cigna Investments Inc. New lifted its stake 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 40,632 shares of the pipeline company’s stock after purchasing an additional 1,003 shares during the quarter. Cigna Investments Inc. New’s holdings in Enbridge were worth $1,652,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ENB. Grove Bank & Trust grew its stake in Enbridge by 56.7% in 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 during the period. 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 purchasing an additional 280 shares during the period. TruNorth Capital Management LLC bought a new stake in Enbridge during the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Enbridge during the first quarter worth $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5 %

ENB opened at $40.40 on Friday. Enbridge Inc. has a fifty-two week low of $31.68 and a fifty-two week high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company’s 50-day moving average is $40.72 and its 200 day moving average is $37.89. The firm has a market capitalization of $87.97 billion, a P/E ratio of 21.04, a PEG ratio of 3.93 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm 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 dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.69%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 137.50%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a 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.