Souders Financial Advisors Acquires Shares of 4,941 Enbridge Inc. (NYSE:ENB)

Souders Financial Advisors bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, HoldingsChannel reports. The firm bought 4,941 shares of the pipeline company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TruNorth Capital Management LLC purchased a new stake in Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge during the first quarter valued at $29,000. Grove Bank & Trust boosted its holdings in 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 acquiring an additional 279 shares in 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 worth $32,000 after acquiring an additional 280 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of NYSE:ENB opened at $42.51 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market cap of $92.56 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. The business has a 50-day simple moving average of $41.01 and a two-hundred day simple moving average of $38.32. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. On average, 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. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.36%. Enbridge’s dividend payout ratio is currently 122.22%.

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.