West Family Investments Inc. Invests $267,000 in Enbridge Inc. (NYSE:ENB)

West Family Investments Inc. acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, Holdings Channel.com reports. The firm acquired 6,578 shares of the pipeline company’s stock, valued at approximately $267,000.

A number of other institutional investors have also made changes to their positions in ENB. Grove Bank & Trust lifted its stake in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new position in Enbridge during the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the second quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $29,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. Wells Fargo & Company upgraded 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 for the company. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Up 0.9 %

Shares of ENB opened at $42.95 on Wednesday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.31. The firm has a market capitalization of $93.55 billion, a P/E ratio of 19.88, a P/E/G ratio of 4.10 and a beta of 0.93. The company has a 50-day simple moving average of $41.23 and a 200-day simple moving average of $38.56. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.