Euro Pacific Asset Management LLC Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Euro Pacific Asset Management LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,140 shares of the pipeline company’s stock after purchasing an additional 310 shares during the period. Euro Pacific Asset Management LLC’s holdings in Enbridge were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Richardson Financial Services Inc. increased its stake in Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after buying an additional 246 shares in the last quarter. First PREMIER Bank increased its position in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 257 shares in the last quarter. Keudell Morrison Wealth Management increased its position in shares of Enbridge by 1.4% during the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock worth $822,000 after purchasing an additional 277 shares in the last quarter. Grove Bank & Trust raised its stake 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 purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $42.18 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock’s fifty day moving average is $41.15 and its two-hundred day moving average is $38.43. The firm has a market capitalization of $91.86 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.31.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. Enbridge’s dividend payout ratio is currently 122.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENB. Morgan Stanley started 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 shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.