Parcion Private Wealth LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Parcion Private Wealth LLC boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 85.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,080 shares of the pipeline company’s stock after acquiring an additional 9,722 shares during the quarter. Parcion Private Wealth LLC’s holdings in Enbridge were worth $856,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lyell Wealth Management LP acquired a new stake in Enbridge during the third quarter worth approximately $227,000. Highland Capital Management LLC purchased a new position in shares of Enbridge during the third quarter worth about $205,000. Tandem Capital Management Corp ADV lifted its holdings in shares of Enbridge by 19.0% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 16,665 shares of the pipeline company’s stock valued at $677,000 after purchasing an additional 2,665 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Enbridge by 3.3% in the 3rd quarter. Ballentine Partners LLC now owns 10,342 shares of the pipeline company’s stock valued at $420,000 after purchasing an additional 329 shares during the period. Finally, Cross Staff Investments Inc purchased a new position in Enbridge in the 3rd quarter valued at $214,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.4 %

NYSE:ENB opened at $40.95 on Friday. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.16. The stock has a market capitalization of $89.18 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 4.00 and a beta of 0.93. The stock has a fifty day moving average price of $40.55 and a two-hundred day moving average price of $37.68. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.53%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 137.50%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday. They set an “equal weight” rating for the company.

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.