Enbridge Inc. (NYSE:ENB) Shares Acquired by Tower Bridge Advisors

Tower Bridge Advisors lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 68,979 shares of the pipeline company’s stock after purchasing an additional 788 shares during the quarter. Tower Bridge Advisors’ holdings in Enbridge were worth $2,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ENB. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $29,000. Grove Bank & Trust grew 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 buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $42.18 on Friday. The company has a 50-day moving average price of $41.15 and a two-hundred day moving average price of $38.45. 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 stock has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the firm posted $0.46 earnings per share. Analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is 122.22%.

Analyst Ratings Changes

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

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.