Verity & Verity LLC Increases Position in Enbridge Inc. (NYSE:ENB)

Verity & Verity LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 496,063 shares of the pipeline company’s stock after purchasing an additional 14,498 shares during the period. Enbridge makes up about 2.0% of Verity & Verity LLC’s holdings, making the stock its 16th largest holding. Verity & Verity LLC’s holdings in Enbridge were worth $20,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge during the first quarter worth $29,000. Grove Bank & Trust boosted its holdings in 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. 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 valued at $32,000 after acquiring an additional 280 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $42.57 on Tuesday. The stock’s 50-day moving average price is $41.18 and its 200 day moving average price is $38.51. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $92.71 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current 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 issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.35%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Ratings Changes

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

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.