Great Valley Advisor Group Inc. Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Great Valley Advisor Group Inc. lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,161 shares of the pipeline company’s stock after acquiring an additional 3,311 shares during the period. Great Valley Advisor Group Inc.’s holdings in Enbridge were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ENB. Janus Henderson Group PLC lifted its stake in Enbridge by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock worth $7,800,000 after purchasing an additional 4,400 shares in the last quarter. Ancora Advisors LLC increased its position in Enbridge by 3.5% in the first quarter. Ancora Advisors LLC now owns 65,479 shares of the pipeline company’s stock worth $2,369,000 after purchasing an additional 2,241 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Enbridge by 6.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 88,752 shares of the pipeline company’s stock valued at $2,949,000 after purchasing an additional 5,347 shares in the last quarter. Creekmur Asset Management LLC raised its stake in Enbridge by 4.1% during the first quarter. Creekmur Asset Management LLC now owns 29,671 shares of the pipeline company’s stock valued at $1,073,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Enbridge by 8.0% during the first quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock valued at $1,468,000 after purchasing an additional 3,008 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Price Performance

Shares of ENB opened at $42.97 on Tuesday. The stock has a market capitalization of $93.58 billion, a PE ratio of 19.89, a PEG ratio of 4.21 and a beta of 0.93. The company has a 50 day moving average price of $41.43 and a 200-day moving average price of $38.73. 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 Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.29%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.