Hartline Investment Corp Has $1.06 Million Position in Enbridge Inc. (NYSE:ENB)

Hartline Investment Corp grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,035 shares of the pipeline company’s stock after buying an additional 1,850 shares during the quarter. Hartline Investment Corp’s holdings in Enbridge were worth $1,057,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. increased its position in Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares in the last quarter. Stonegate Investment Group LLC grew its stake in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after purchasing an additional 13,515 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after purchasing an additional 19,344 shares in the last quarter. Ted Buchan & Co raised its position in Enbridge by 43.5% in the 3rd quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock worth $1,985,000 after purchasing an additional 14,791 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Enbridge during the 1st quarter worth $1,133,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB opened at $42.18 on Wednesday. The stock has a market cap of $91.84 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.16 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $43.00. The stock’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $38.32. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the business posted $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. Enbridge’s payout ratio is currently 122.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ENB shares. 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 report on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

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.