Entropy Technologies LP Invests $624,000 in Enbridge Inc. (NYSE:ENB)

Entropy Technologies LP bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,361 shares of the pipeline company’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. grew its position in Enbridge by 28.4% during the third 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 during the period. First PREMIER Bank grew its position in 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 buying an additional 257 shares during the period. Keudell Morrison Wealth Management grew its position in 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 buying an additional 277 shares during the period. Grove Bank & Trust grew its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% in the third 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. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB opened at $43.10 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 company has a market capitalization of $93.86 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 4.10 and a beta of 0.93. The company’s 50 day simple moving average is $41.06 and its 200 day simple moving average is $38.35. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The business 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 quarter in the prior year, the firm posted $0.46 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.27%. Enbridge’s dividend payout ratio is presently 122.22%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of 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.