Brown Brothers Harriman & Co. Buys 333 Shares of Enbridge Inc. (NYSE:ENB)

Brown Brothers Harriman & Co. lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,912 shares of the pipeline company’s stock after acquiring an additional 333 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Enbridge were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. TruNorth Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the second quarter worth $28,000. Grove Bank & Trust boosted its position in 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 purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during 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 during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 0.5 %

Enbridge stock opened at $42.90 on Thursday. The firm has a market capitalization of $93.44 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93. The firm has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $38.79. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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. The firm had revenue of $10.91 billion for 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 9.94%. During the same period in the prior year, the firm posted $0.46 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

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.