Beacon Investment Advisory Services Inc. Acquires 2,091 Shares of Enbridge Inc. (NYSE:ENB)

Beacon Investment Advisory Services Inc. increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,171 shares of the pipeline company’s stock after acquiring an additional 2,091 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Enbridge were worth $5,327,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after purchasing an additional 13,515 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 1.1 %

Shares of ENB stock opened at $43.38 on Monday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market cap of $94.48 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.26 and a beta of 0.93. The firm’s 50-day moving average is $41.62 and its 200-day moving average is $38.89.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a $0.676 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

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

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.