Horizon Kinetics Asset Management LLC Takes $509,000 Position in Enbridge Inc. (NYSE:ENB)

Horizon Kinetics Asset Management LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,532 shares of the pipeline company’s stock, valued at approximately $509,000.

Other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. Grove Bank & Trust lifted its stake in Enbridge by 56.7% during 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 last quarter. MFA Wealth Advisors LLC boosted its holdings 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 buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Enbridge in the third quarter worth approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.7 %

ENB stock opened at $42.97 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $93.58 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.21 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. The company’s 50 day simple moving average is $41.43 and its 200-day simple moving average is $38.73.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results 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 company 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 period in the previous year, the business earned $0.46 EPS. As a group, equities research 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. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.29%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analyst Ratings Changes

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

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.