Foster Victor Wealth Advisors LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Foster Victor Wealth Advisors LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,734 shares of the pipeline company’s stock after purchasing an additional 7,566 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Enbridge were worth $10,580,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ENB. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth approximately $31,000. Finally, Grove Bank & Trust boosted its position in Enbridge by 56.7% during 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 during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.50.

Enbridge Stock Up 0.4 %

Shares of ENB opened at $41.30 on Wednesday. The firm has a market cap of $88.12 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The company’s fifty day moving average is $40.18 and its two-hundred day moving average is $37.42. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $41.35. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the business earned $0.51 EPS. Analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.48%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.