Axxcess Wealth Management LLC Grows Position in Enbridge Inc. (NYSE:ENB)

Axxcess Wealth Management LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,705 shares of the pipeline company’s stock after acquiring an additional 8,513 shares during the period. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the first quarter worth about $29,000. Grove Bank & Trust increased its stake in Enbridge by 56.7% during the third 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. Finally, MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% during 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 during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on ENB shares. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Up 1.1 %

Shares of NYSE:ENB opened at $42.79 on Tuesday. The firm has a market capitalization of $93.17 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. The business has a 50 day simple moving average of $40.92 and a two-hundred day simple moving average of $38.23. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $42.89. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68.

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 company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 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.