AA Financial Advisors LLC Takes $224,000 Position in Enbridge Inc. (NYSE:ENB)

AA Financial Advisors LLC bought 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 (SEC). The institutional investor bought 5,521 shares of the pipeline company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.3 %

Shares of NYSE:ENB opened at $41.98 on Monday. The company has a market capitalization of $89.58 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.03. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The business’s 50 day simple moving average is $40.38 and its 200 day simple moving average is $37.55.

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 the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company earned $0.51 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.37%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is presently 134.01%.

Analyst Upgrades and Downgrades

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

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.