Tower Bridge Advisors Increases Holdings in Enbridge Inc. (NYSE:ENB)

Tower Bridge Advisors increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,979 shares of the pipeline company’s stock after purchasing an additional 788 shares during the period. Tower Bridge Advisors’ holdings in Enbridge were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in Enbridge during the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter worth $29,000. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the 3rd 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 period. Finally, MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

Shares of ENB stock opened at $42.18 on Friday. Enbridge Inc. has a 12 month low of $32.76 and a 12 month high of $43.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $91.86 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.10 and a beta of 0.93. The company’s fifty day moving average price is $41.15 and its two-hundred day moving average price is $38.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business posted $0.46 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 122.22%.

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.