Independent Advisor Alliance Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Independent Advisor Alliance lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,758 shares of the pipeline company’s stock after purchasing an additional 1,725 shares during the quarter. Independent Advisor Alliance’s holdings in Enbridge were worth $3,767,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ENB. Janus Henderson Group PLC raised its stake in shares of Enbridge by 2.1% during the first quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock worth $7,800,000 after purchasing an additional 4,400 shares during the last quarter. Ancora Advisors LLC raised its stake in shares of Enbridge by 3.5% during the first quarter. Ancora Advisors LLC now owns 65,479 shares of the pipeline company’s stock worth $2,369,000 after purchasing an additional 2,241 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Enbridge by 6.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 88,752 shares of the pipeline company’s stock worth $2,949,000 after purchasing an additional 5,347 shares during the last quarter. Creekmur Asset Management LLC raised its stake in shares of Enbridge by 4.1% during the first quarter. Creekmur Asset Management LLC now owns 29,671 shares of the pipeline company’s stock worth $1,073,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Enbridge by 8.0% during the first quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock worth $1,468,000 after purchasing an additional 3,008 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7 %

Shares of ENB stock opened at $42.97 on Tuesday. The business’s fifty day moving average price is $41.43 and its 200 day moving average price is $38.73. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The firm has a market capitalization of $93.58 billion, a PE ratio of 19.89, a P/E/G ratio of 4.21 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 (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is a positive change 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 yield of 6.29%. Enbridge’s dividend payout ratio is 121.76%.

Analysts Set New Price Targets

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

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.