Enbridge Inc. (NYSE:ENB) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,275 shares of the pipeline company’s stock after acquiring an additional 834 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $1,554,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC lifted its stake in shares of Enbridge by 7.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 530 shares during the last quarter. Vicus Capital purchased a new stake in Enbridge in the 1st quarter valued at about $310,000. Hexagon Capital Partners LLC lifted its position in Enbridge by 46.3% in the first quarter. Hexagon Capital Partners LLC now owns 5,834 shares of the pipeline company’s stock valued at $211,000 after buying an additional 1,845 shares during the last quarter. Applied Capital LLC FL boosted its stake in Enbridge by 89.1% during the first quarter. Applied Capital LLC FL now owns 25,871 shares of the pipeline company’s stock worth $936,000 after buying an additional 12,188 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Enbridge during the first quarter valued at about $43,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.1 %

NYSE:ENB traded down $0.05 on Monday, reaching $40.89. 992,082 shares of the company’s stock were exchanged, compared to its average volume of 4,894,530. The business has a fifty day moving average of $40.60 and a 200-day moving average of $37.76. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 52-week low of $31.47 and a 52-week high of $42.16. The firm has a market capitalization of $87.25 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the business earned $0.51 EPS. As a group, analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.54%. Enbridge’s payout ratio is 134.01%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley started coverage on shares of Enbridge in a report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.