5,746 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Advisor Resource Council

Advisor Resource Council bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,746 shares of the pipeline company’s stock, valued at approximately $233,000.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% in 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. MFA Wealth Advisors LLC increased its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday.

Enbridge Price Performance

Enbridge stock opened at $42.41 on Friday. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $42.61. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $38.12. The firm has a market capitalization of $92.36 billion, a PE ratio of 19.63, a P/E/G ratio of 3.97 and a beta of 0.93.

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

Enbridge Increases Dividend

The company also recently announced 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 is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.38%. Enbridge’s payout ratio is presently 122.22%.

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.