Platform Technology Partners Takes $213,000 Position in Enbridge Inc. (NYSE:ENB)

Platform Technology Partners bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,236 shares of the pipeline company’s stock, valued at approximately $213,000.

Other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter worth about $29,000. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Stock Performance

NYSE:ENB opened at $42.18 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a 50 day simple moving average of $40.98 and a 200 day simple moving average of $38.28. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $43.00. The stock has a market cap of $91.84 billion, a P/E ratio of 19.53, a PEG ratio of 4.16 and a beta of 0.93.

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 analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

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