Cyndeo Wealth Partners LLC Invests $302,000 in Enbridge Inc. (NYSE:ENB)

Cyndeo Wealth Partners LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,440 shares of the pipeline company’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC lifted its position in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge in the 1st quarter valued at $1,133,000. Vanguard Group Inc. raised its stake in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Enbridge in the first quarter valued at $4,069,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

Shares of ENB opened at $41.54 on Tuesday. The company’s 50 day simple moving average is $40.43 and its 200-day simple moving average is $37.59. The firm has a market cap of $88.63 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed 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 6.44%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 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.