Enbridge Inc. (NYSE:ENB) Stock Holdings Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,757 shares of the pipeline company’s stock after buying an additional 9,896 shares during the period. Advisors Asset Management Inc.’s holdings in Enbridge were worth $5,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Grove Bank & Trust grew its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Enbridge during the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the second quarter worth approximately $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Enbridge during the first quarter worth approximately $29,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ENB. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Performance

NYSE ENB opened at $43.46 on Friday. 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 $94.65 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93. The company’s fifty day moving average is $41.34 and its two-hundred day moving average is $38.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping 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 net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the business posted $0.46 EPS. Equities research analysts forecast 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.22%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.