Gibson Wealth Advisors LLC Invests $203,000 in Enbridge Inc. (NYSE:ENB)

Gibson Wealth Advisors LLC bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the pipeline company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC purchased a new position in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge during the 1st quarter valued at about $29,000. Grove Bank & Trust boosted its stake in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% in the third 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. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 1.4 %

ENB stock opened at $42.18 on Wednesday. The company has a market cap of $91.84 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.16 and a beta of 0.93. 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 business’s 50-day moving average is $41.01 and its two-hundred day moving average is $38.32. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during 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 period in the previous year, the business posted $0.46 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 122.22%.

Analyst Ratings Changes

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

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.