Americana Partners LLC Purchases 39,229 Shares of Enbridge Inc. (NYSE:ENB)

Americana Partners LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,778 shares of the pipeline company’s stock after buying an additional 39,229 shares during the quarter. Americana Partners LLC’s holdings in Enbridge were worth $7,179,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ENB. Grove Bank & Trust grew its stake in shares of Enbridge by 56.7% in the 3rd 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. MFA Wealth Advisors LLC raised its stake 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 purchasing an additional 280 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter valued at approximately $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the first quarter valued at approximately $29,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.3 %

ENB traded down $0.14 during trading hours on Friday, reaching $40.26. 1,920,681 shares of the stock traded hands, compared to its average volume of 4,871,792. The firm’s fifty day simple moving average is $40.72 and its two-hundred day simple moving average is $37.89. The company has a market cap of $87.67 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.65 and a fifty-two week high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, analysts forecast that Enbridge Inc. will post 2.07 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.72%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 137.50%.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company.

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.