Portside Wealth Group LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Portside Wealth Group LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,178 shares of the pipeline company’s stock after acquiring an additional 1,423 shares during the quarter. Portside Wealth Group LLC’s holdings in Enbridge were worth $1,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norden Group LLC acquired a new stake in shares of Enbridge during the first quarter worth $360,000. BNP Paribas Financial Markets lifted its position in Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after acquiring an additional 1,136 shares during the period. Csenge Advisory Group grew its stake in Enbridge by 15.3% during the 1st quarter. Csenge Advisory Group now owns 10,911 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 1,445 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Enbridge by 5.0% in the first quarter. Geneos Wealth Management Inc. now owns 13,684 shares of the pipeline company’s stock valued at $495,000 after purchasing an additional 647 shares during the period. Finally, Advisory Alpha LLC purchased a new position in shares of Enbridge in the first quarter worth about $279,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 2.1 %

Shares of ENB stock opened at $42.41 on Friday. The stock has a market cap of $92.36 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $42.61. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $40.82 and its 200-day moving average price is $38.12.

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 analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.38%. Enbridge’s dividend payout ratio is 122.22%.

Analyst Ratings Changes

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 shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company.

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.