Lewis Asset Management LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,761 shares of the pipeline company’s stock after purchasing an additional 600 shares during the period. Lewis Asset Management LLC’s holdings in Enbridge were worth $518,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Portside Wealth Group LLC lifted its holdings in Enbridge by 4.9% in the third quarter. Portside Wealth Group LLC now owns 30,178 shares of the pipeline company’s stock valued at $1,226,000 after buying an additional 1,423 shares during the period. Keudell Morrison Wealth Management grew its stake in Enbridge by 1.4% during the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock worth $822,000 after purchasing an additional 277 shares during the period. Montecito Bank & Trust lifted its stake in Enbridge by 1.5% in the third quarter. Montecito Bank & Trust now owns 28,227 shares of the pipeline company’s stock valued at $1,146,000 after buying an additional 408 shares during the period. Advisor Resource Council acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $233,000. Finally, Maia Wealth LLC bought a new position in Enbridge during the third quarter worth $225,000. Institutional investors own 54.60% of the company’s stock.
Enbridge Trading Up 2.1 %
NYSE ENB opened at $42.41 on Friday. Enbridge Inc. has a one year low of $32.76 and a one year high of $42.61. The business’s fifty day moving average is $40.82 and its 200-day moving average is $38.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68. The stock has a market capitalization of $92.36 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 3.97 and a beta of 0.93.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.38%. Enbridge’s dividend payout ratio is 122.22%.
Analyst Upgrades and Downgrades
ENB has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday.
View Our Latest Stock Analysis on ENB
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.
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