Townsquare Capital LLC Has $14.09 Million Stake in Enbridge Inc. (NYSE:ENB)

Townsquare Capital LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,999 shares of the pipeline company’s stock after acquiring an additional 13,780 shares during the period. Townsquare Capital LLC’s holdings in Enbridge were worth $14,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENB. Janus Henderson Group PLC increased its stake in Enbridge by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock valued at $7,800,000 after buying an additional 4,400 shares during the last quarter. Ancora Advisors LLC increased its stake in Enbridge by 3.5% in the 1st quarter. Ancora Advisors LLC now owns 65,479 shares of the pipeline company’s stock valued at $2,369,000 after buying an additional 2,241 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Enbridge by 6.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 88,752 shares of the pipeline company’s stock valued at $2,949,000 after buying an additional 5,347 shares during the last quarter. Tidal Investments LLC increased its stake in Enbridge by 8.0% in the 1st quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock valued at $1,468,000 after buying an additional 3,008 shares during the last quarter. Finally, Beacon Capital Management LLC increased its stake in Enbridge by 55.1% in the 1st quarter. Beacon Capital Management LLC now owns 1,546 shares of the pipeline company’s stock valued at $56,000 after buying an additional 549 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $42.71 on Wednesday. The company’s 50 day moving average price is $41.47 and its two-hundred day moving average price is $38.76. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The firm has a market cap of $93.02 billion, a PE ratio of 19.77, a PEG ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 121.76%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ENB shares. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of 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.