Wealth Enhancement Advisory Services LLC Purchases 4,551 Shares of Enbridge Inc. (NYSE:ENB)

Wealth Enhancement Advisory Services LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 759,556 shares of the pipeline company’s stock after acquiring an additional 4,551 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $30,848,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. First PREMIER Bank grew its holdings in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Grove Bank & Trust boosted its position in Enbridge by 56.7% during 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. MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Rockwood Wealth Management LLC increased its position in shares of Enbridge by 2.6% during the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday. They issued an “equal weight” rating for the company.

Enbridge Price Performance

NYSE:ENB opened at $40.94 on Monday. 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 Inc. has a 12-month low of $31.31 and a 12-month high of $42.16. The stock’s 50 day moving average price is $40.60 and its two-hundred day moving average price is $37.76. The firm has a market capitalization of $87.36 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm posted $0.51 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Thursday, August 15th. 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.