Waldron Private Wealth LLC Purchases 349 Shares of Enbridge Inc. (NYSE:ENB)

Waldron Private Wealth LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,375 shares of the pipeline company’s stock after buying an additional 349 shares during the period. Waldron Private Wealth LLC’s holdings in Enbridge were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. AdvisorNet Financial Inc grew its holdings in shares of Enbridge by 53.0% during the first quarter. AdvisorNet Financial Inc now owns 6,873 shares of the pipeline company’s stock worth $249,000 after purchasing an additional 2,381 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Enbridge by 147.6% in the 1st quarter. Sunbelt Securities Inc. now owns 27,574 shares of the pipeline company’s stock worth $998,000 after buying an additional 16,437 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Enbridge by 11.4% in the 1st quarter. Brookstone Capital Management now owns 46,300 shares of the pipeline company’s stock worth $1,675,000 after buying an additional 4,742 shares during the last quarter. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Enbridge during the 1st quarter valued at $207,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Enbridge by 7.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 530 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Down 0.6 %

Shares of ENB opened at $41.22 on Thursday. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.16. 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 stock has a 50 day simple moving average of $40.50 and a two-hundred day simple moving average of $37.66. The firm has a market cap of $87.96 billion, a P/E ratio of 20.92, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the company earned $0.51 EPS. On average, analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 annualized dividend and a dividend yield of 6.49%. Enbridge’s dividend payout ratio is currently 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.