Callahan Advisors LLC Increases Position in Enbridge Inc. (NYSE:ENB)

Callahan Advisors LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 43.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,403 shares of the pipeline company’s stock after purchasing an additional 41,642 shares during the quarter. Callahan Advisors LLC’s holdings in Enbridge were worth $5,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the period. First PREMIER Bank increased its position in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 257 shares during the period. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Rockwood Wealth Management LLC increased its position in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after acquiring an additional 285 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $41.05 on Wednesday. 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 firm has a fifty day moving average price of $40.78 and a 200 day moving average price of $38.09. The company has a market cap of $89.39 billion, a P/E ratio of 19.00, a PEG ratio of 3.91 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.76 and a 12 month high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.99%. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.59%. 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 currently 122.22%.

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.00.

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.