Enbridge Inc. (NYSE:ENB) Position Increased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 56,893 shares of the pipeline company’s stock after buying an additional 6,683 shares during the quarter. Apollon Wealth Management LLC’s holdings in Enbridge were worth $2,311,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. BNP Paribas Financial Markets grew its holdings in shares of Enbridge by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 1,136 shares during the last quarter. Sei Investments Co. grew its stake in Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after buying an additional 15,650 shares during the last quarter. Bleakley Financial Group LLC increased its position in Enbridge by 5.9% in the first quarter. Bleakley Financial Group LLC now owns 17,485 shares of the pipeline company’s stock worth $633,000 after buying an additional 973 shares during the period. Koshinski Asset Management Inc. bought a new stake in Enbridge in the first quarter valued at $250,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge during the first quarter worth about $1,133,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research 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 cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Up 0.8 %

Enbridge stock opened at $42.51 on Thursday. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.00. The stock has a market cap of $92.56 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.10 and a beta of 0.93. The company’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $38.32. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 business had revenue of $10.91 billion during 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. On average, analysts expect 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. Stockholders 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 dividend yield of 6.36%. 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 payout ratio is currently 122.22%.

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.