Lyell Wealth Management LP Invests $227,000 in Enbridge Inc. (NYSE:ENB)

Lyell Wealth Management LP purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,580 shares of the pipeline company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in shares of Enbridge during the 1st quarter valued at $31,000. Finally, Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $40.94 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average price is $40.60 and its two-hundred day moving average price is $37.74. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $42.16. The company has a market cap of $89.16 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.00 and a beta of 0.93.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. Enbridge’s payout ratio is 137.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday. They set an “equal weight” rating on the stock. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

About Enbridge

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.