Platform Technology Partners Purchases New Stake in Enbridge Inc. (NYSE:ENB)

Platform Technology Partners acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,236 shares of the pipeline company’s stock, valued at approximately $213,000.

Several other hedge funds have also recently bought and sold shares of ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter worth $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in 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 last quarter. Finally, MFA Wealth Advisors LLC boosted its stake 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 purchasing an additional 280 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Down 1.4 %

Shares of NYSE:ENB opened at $42.18 on Wednesday. The business has a fifty day simple moving average of $40.98 and a 200 day simple moving average of $38.28. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.00. The firm has a market cap of $91.84 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.16 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 posted its quarterly earnings data 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 company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. 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 annualized dividend and a dividend yield of 6.41%. Enbridge’s dividend payout ratio is 122.22%.

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.