Graham Capital Wealth Management LLC Has $2.52 Million Stake in Enbridge Inc. (NYSE:ENB)

Graham Capital Wealth Management LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,051 shares of the pipeline company’s stock after purchasing an additional 2,266 shares during the period. Enbridge makes up about 2.6% of Graham Capital Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Graham Capital Wealth Management LLC’s holdings in Enbridge were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. First PREMIER Bank lifted its holdings in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after buying an additional 257 shares during the period. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted 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 valued at $32,000 after buying an additional 280 shares during the period. Rockwood Wealth Management LLC increased its stake in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 298 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 equities research analysts have commented on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday. They issued an “equal weight” rating for the company. 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 Down 0.5 %

Shares of ENB stock traded down $0.19 during trading hours on Friday, hitting $40.94. 3,119,480 shares of the company were exchanged, compared to its average volume of 2,646,088. The business has a 50 day moving average of $40.60 and a two-hundred day moving average of $37.74. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a market capitalization of $89.16 billion, a PE ratio of 21.32, a PEG ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 137.50%.

Enbridge 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.