Pekin Hardy Strauss Inc. Acquires 1,675 Shares of Enbridge Inc. (NYSE:ENB)

Pekin Hardy Strauss Inc. grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,780 shares of the pipeline company’s stock after purchasing an additional 1,675 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Enbridge were worth $845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Centaurus Financial Inc. lifted its holdings in shares of Enbridge by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after buying an additional 256 shares during the period. Larson Financial Group LLC raised its position in shares of Enbridge by 57.9% in the third quarter. Larson Financial Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $218,000 after buying an additional 1,965 shares during the last quarter. WESPAC Advisors LLC lifted its position in Enbridge by 13.7% during the third quarter. WESPAC Advisors LLC now owns 16,239 shares of the pipeline company’s stock worth $659,000 after buying an additional 1,953 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Enbridge by 76.9% during the third quarter. Kingsview Wealth Management LLC now owns 82,130 shares of the pipeline company’s stock worth $3,335,000 after purchasing an additional 35,711 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Enbridge by 6.8% in the 3rd quarter. Cerity Partners LLC now owns 190,814 shares of the pipeline company’s stock valued at $7,749,000 after purchasing an additional 12,154 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.5 %

Shares of NYSE ENB opened at $43.26 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $94.22 billion, a PE ratio of 20.03, a P/E/G ratio of 4.21 and a beta of 0.93. The firm has a fifty day moving average of $41.40 and a 200-day moving average of $38.69. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several analyst reports. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge 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.