Capital Investment Advisors LLC Has $2.19 Million Position in Enbridge Inc. (NYSE:ENB)

Capital Investment Advisors LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,802 shares of the pipeline company’s stock after acquiring an additional 2,564 shares during the period. Capital Investment Advisors LLC’s holdings in Enbridge were worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Enbridge by 39.9% in the 3rd quarter. Blue Trust Inc. now owns 13,736 shares of the pipeline company’s stock valued at $558,000 after purchasing an additional 3,917 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in Enbridge in the third quarter valued at about $204,000. Aspiriant LLC bought a new position in Enbridge in the third quarter valued at about $221,000. Stonegate Investment Group LLC raised its stake in Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares in the last quarter. Finally, Teamwork Financial Advisors LLC lifted its holdings in shares of Enbridge by 12.3% in the third quarter. Teamwork Financial Advisors LLC now owns 7,877 shares of the pipeline company’s stock worth $320,000 after acquiring an additional 861 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Trading Up 0.3 %

ENB opened at $41.98 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.03. The company’s 50 day moving average price is $40.38 and its two-hundred day moving average price is $37.54. The firm has a market capitalization of $89.58 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 6.37%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

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.