Acorn Wealth Advisors LLC Purchases 291 Shares of Enbridge Inc. (NYSE:ENB)

Acorn Wealth Advisors LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,093 shares of the pipeline company’s stock after acquiring an additional 291 shares during the period. Acorn Wealth Advisors LLC’s holdings in Enbridge were worth $369,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cibc World Market Inc. increased its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank grew its position in Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Performance

ENB stock traded up $0.20 on Monday, hitting $43.46. The company had a trading volume of 356,267 shares, compared to its average volume of 4,834,835. The stock has a market cap of $94.66 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 4.21 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock’s 50-day simple moving average is $41.40 and its 200 day simple moving average is $38.69. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates 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 company posted $0.46 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.22%. 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.