Enbridge Inc. (NYSE:ENB) Holdings Lifted by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 227.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,613 shares of the pipeline company’s stock after acquiring an additional 29,613 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Enbridge were worth $1,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Raymond James Trust N.A. boosted its stake in shares of Enbridge by 7.4% during the 3rd quarter. Raymond James Trust N.A. now owns 67,006 shares of the pipeline company’s stock worth $2,721,000 after acquiring an additional 4,593 shares in the last quarter. AlphaCore Capital LLC raised its holdings in Enbridge by 11.7% during the 3rd quarter. AlphaCore Capital LLC now owns 47,150 shares of the pipeline company’s stock worth $1,915,000 after buying an additional 4,927 shares during the period. Concorde Asset Management LLC lifted its stake in Enbridge by 4.6% during the third quarter. Concorde Asset Management LLC now owns 6,827 shares of the pipeline company’s stock valued at $277,000 after buying an additional 300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Enbridge by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,845,232 shares of the pipeline company’s stock worth $237,698,000 after buying an additional 242,424 shares during the period. Finally, Integrated Investment Consultants LLC purchased a new position in shares of Enbridge in the third quarter worth approximately $5,986,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.5 %

NYSE ENB opened at $43.26 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The firm’s fifty day simple moving average is $41.40 and its 200-day simple moving average is $38.67. The company has a market capitalization of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.23 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.25%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENB. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded 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.