Integrated Investment Consultants LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Integrated Investment Consultants LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 147,411 shares of the pipeline company’s stock, valued at approximately $5,986,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the first quarter worth $29,000. Grove Bank & Trust boosted its stake in shares of 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 purchasing an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% during 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 Trading Down 0.5 %

Shares of NYSE:ENB opened at $42.79 on Thursday. The stock has a market capitalization of $93.19 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.18 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.31. The company has a 50 day moving average price of $41.29 and a 200 day moving average price of $38.59. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.