Teamwork Financial Advisors LLC Buys 861 Shares of Enbridge Inc. (NYSE:ENB)

Teamwork Financial Advisors LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,877 shares of the pipeline company’s stock after buying an additional 861 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Enbridge were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Bleakley Financial Group LLC increased its position in Enbridge by 7.3% during the third quarter. Bleakley Financial Group LLC now owns 19,407 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 1,313 shares during the last quarter. Hengehold Capital Management LLC bought a new stake in shares of Enbridge during the 3rd quarter valued at about $202,000. FLC Capital Advisors increased its position in shares of Enbridge by 7.0% during the 3rd quarter. FLC Capital Advisors now owns 96,594 shares of the pipeline company’s stock valued at $3,923,000 after purchasing an additional 6,288 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Enbridge by 2.2% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 29,276 shares of the pipeline company’s stock worth $1,189,000 after purchasing an additional 632 shares during the period. Finally, Sunpointe LLC boosted its holdings in shares of Enbridge by 5.9% in the third quarter. Sunpointe LLC now owns 8,694 shares of the pipeline company’s stock worth $353,000 after buying an additional 484 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Trading Up 0.4 %

ENB stock opened at $41.99 on Friday. The firm has a market cap of $89.60 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The firm has a fifty day moving average price of $40.38 and a 200 day moving average price of $37.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.03.

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, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for 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 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared 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 was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.37%. Enbridge’s payout ratio is 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.