Beacon Investment Advisory Services Inc. Buys 2,091 Shares of Enbridge Inc. (NYSE:ENB)

Beacon Investment Advisory Services Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,171 shares of the pipeline company’s stock after acquiring an additional 2,091 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Enbridge were worth $5,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its position in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the period. Toronto Dominion Bank boosted its position in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENB. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Price Performance

Shares of NYSE:ENB opened at $43.38 on Monday. The firm has a market cap of $94.48 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.26 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 firm’s fifty day moving average is $41.62 and its 200-day moving average is $38.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during 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 quarter in the prior year, the firm posted $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were issued a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.23%. Enbridge’s payout ratio 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.