Radnor Capital Management LLC Acquires 5,775 Shares of Enbridge Inc. (NYSE:ENB)

Radnor Capital Management LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,864 shares of the pipeline company’s stock after buying an additional 5,775 shares during the quarter. Radnor Capital Management LLC’s holdings in Enbridge were worth $2,837,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Callahan Advisors LLC increased its position in Enbridge by 43.0% during the 3rd quarter. Callahan Advisors LLC now owns 138,403 shares of the pipeline company’s stock valued at $5,621,000 after purchasing an additional 41,642 shares during the period. United Advisor Group LLC increased its position in Enbridge by 22.7% during the 3rd quarter. United Advisor Group LLC now owns 9,841 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 1,818 shares during the period. New England Capital Financial Advisors LLC increased its position in Enbridge by 89.0% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 1,062 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 500 shares during the period. Old North State Wealth Management LLC increased its position in Enbridge by 2.3% during the 3rd quarter. Old North State Wealth Management LLC now owns 92,859 shares of the pipeline company’s stock valued at $3,773,000 after purchasing an additional 2,097 shares during the period. Finally, Van ECK Associates Corp increased its position in Enbridge by 10.3% during the 3rd quarter. Van ECK Associates Corp now owns 649,213 shares of the pipeline company’s stock valued at $26,752,000 after purchasing an additional 60,424 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $41.05 on Wednesday. The company has a fifty day simple moving average of $40.78 and a 200 day simple moving average of $38.09. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The company has a market cap of $89.39 billion, a P/E ratio of 19.00, a PEG ratio of 3.91 and a beta of 0.93.

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 the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.99% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.59%. Enbridge’s dividend payout ratio (DPR) is 122.22%.

Analysts Set New Price Targets

ENB has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.00.

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.