Equitable Trust Co. Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Equitable Trust Co. grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 40.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,817 shares of the pipeline company’s stock after purchasing an additional 4,878 shares during the quarter. Equitable Trust Co.’s holdings in Enbridge were worth $683,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Leavell Investment Management Inc. lifted its position in Enbridge by 1.7% during the third quarter. Leavell Investment Management Inc. now owns 24,087 shares of the pipeline company’s stock worth $978,000 after buying an additional 403 shares during the period. Lewis Asset Management LLC lifted its holdings in shares of Enbridge by 4.9% during the 3rd quarter. Lewis Asset Management LLC now owns 12,761 shares of the pipeline company’s stock worth $518,000 after acquiring an additional 600 shares during the period. Portside Wealth Group LLC boosted its position in shares of Enbridge by 4.9% in the third quarter. Portside Wealth Group LLC now owns 30,178 shares of the pipeline company’s stock worth $1,226,000 after acquiring an additional 1,423 shares during the last quarter. Keudell Morrison Wealth Management grew its holdings in Enbridge by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after purchasing an additional 277 shares during the period. Finally, Montecito Bank & Trust increased its position in Enbridge by 1.5% during the third quarter. Montecito Bank & Trust now owns 28,227 shares of the pipeline company’s stock worth $1,146,000 after purchasing an additional 408 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

Enbridge stock opened at $42.33 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $92.18 billion, a P/E ratio of 19.60, a PEG ratio of 4.04 and a beta of 0.93. The firm has a fifty day moving average of $40.92 and a 200-day moving average of $38.20. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $42.61.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company posted $0.46 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 122.22%.

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.