Avior Wealth Management LLC Boosts Stake in Enbridge Inc. (NYSE:ENB)

Avior Wealth Management LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 268.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,790 shares of the pipeline company’s stock after purchasing an additional 4,218 shares during the period. Avior Wealth Management LLC’s holdings in Enbridge were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ENB. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge during the first quarter worth $29,000. Grove Bank & Trust lifted its holdings 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 in the last quarter. Finally, MFA Wealth Advisors LLC grew its position in shares of 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 during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $43.26 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70. The firm has a market capitalization of $94.22 billion, a PE ratio of 20.03, a PEG ratio of 4.18 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm’s 50-day moving average price is $41.40 and its 200 day moving average price is $38.67.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the firm posted $0.46 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

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.