Concorde Asset Management LLC Buys 300 Shares of Enbridge Inc. (NYSE:ENB)

Concorde Asset Management LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,827 shares of the pipeline company’s stock after acquiring an additional 300 shares during the period. Concorde Asset Management LLC’s holdings in Enbridge were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter worth approximately $29,000. Grove Bank & Trust lifted 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 acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ENB shares. 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 assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $43.46 on Friday. The company’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $38.62. The stock has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.55.

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 analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the firm posted $0.46 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal 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 $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.22%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.