Enbridge Inc. (NYSE:ENB) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,275 shares of the pipeline company’s stock after acquiring an additional 834 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $1,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its stake in shares of Enbridge by 7.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock worth $288,000 after buying an additional 530 shares during the period. Vicus Capital purchased a new position in Enbridge during the first quarter valued at $310,000. Hexagon Capital Partners LLC grew its position in shares of Enbridge by 46.3% in the first quarter. Hexagon Capital Partners LLC now owns 5,834 shares of the pipeline company’s stock valued at $211,000 after purchasing an additional 1,845 shares during the period. Applied Capital LLC FL increased its stake in shares of Enbridge by 89.1% during the first quarter. Applied Capital LLC FL now owns 25,871 shares of the pipeline company’s stock worth $936,000 after purchasing an additional 12,188 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Enbridge during the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB traded down $0.05 on Monday, reaching $40.89. 992,082 shares of the company’s stock were exchanged, compared to its average volume of 4,894,530. Enbridge Inc. has a twelve month low of $31.47 and a twelve month high of $42.16. The stock has a market cap of $87.25 billion, a PE ratio of 20.73, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock’s fifty day moving average price is $40.60 and its 200-day moving average price is $37.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $0.51 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ENB shares. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating on the stock.

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.