Farther Finance Advisors LLC Buys 1,193 Shares of Enbridge Inc. (NYSE:ENB)

Farther Finance Advisors LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.7% during the 3rd quarter, Holdings Channel reports. The firm owned 10,566 shares of the pipeline company’s stock after acquiring an additional 1,193 shares during the period. Farther Finance Advisors LLC’s holdings in Enbridge were worth $429,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust grew 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 acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge during the 2nd quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. bought a new position in Enbridge during the 1st quarter valued at approximately $29,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Up 2.1 %

Shares of NYSE:ENB opened at $42.41 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $42.61. The firm has a market capitalization of $92.36 billion, a P/E ratio of 19.66, a P/E/G ratio of 3.97 and a beta of 0.93. The stock has a 50 day moving average price of $40.82 and a 200-day moving average price of $38.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 122.22%.

Enbridge 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.