Valeo Financial Advisors LLC Purchases New Position in Enbridge Inc. (NYSE:ENB)

Valeo Financial Advisors LLC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,674 shares of the pipeline company’s stock, valued at approximately $230,000.

Several other institutional investors have also bought and sold shares of ENB. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge in the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in Enbridge in the 1st quarter valued at $31,000. Finally, PFS Partners LLC raised its position in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.50.

Enbridge Trading Up 0.4 %

ENB stock opened at $41.30 on Wednesday. The company has a market cap of $88.12 billion, a P/E ratio of 20.96, a PEG ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $41.35. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average of $40.18 and a 200-day moving average of $37.42.

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.48%. Enbridge’s dividend payout ratio is presently 134.01%.

Enbridge Company 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.