Private Advisor Group LLC Has $4.97 Million Stake in Enbridge Inc. (NYSE:ENB)

Private Advisor Group LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 122,489 shares of the pipeline company’s stock after purchasing an additional 18,891 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge were worth $4,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the 1st quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter worth approximately $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENB shares. Morgan Stanley started coverage on Enbridge in a report on Friday. They issued an “equal weight” rating for the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Down 0.5 %

Shares of ENB stock opened at $40.94 on Friday. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.16. The firm has a market cap of $89.16 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The stock has a 50 day moving average of $40.60 and a 200-day moving average of $37.72. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the business posted $0.51 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 137.50%.

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.