TrinityPoint Wealth LLC Has $576,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

TrinityPoint Wealth LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,188 shares of the pipeline company’s stock after purchasing an additional 3,107 shares during the period. TrinityPoint Wealth LLC’s holdings in Enbridge were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. BNP Paribas Financial Markets increased its holdings in Enbridge by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after buying an additional 1,136 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge during the 1st quarter valued at $1,133,000. Orion Portfolio Solutions LLC lifted its stake in shares of Enbridge by 8.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 45,578 shares of the pipeline company’s stock valued at $1,649,000 after purchasing an additional 3,610 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Enbridge in the first quarter worth $1,146,000. Finally, Ameritas Investment Partners Inc. bought a new position in Enbridge during the first quarter valued at about $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $42.57 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average price is $41.18 and its two-hundred day moving average price is $38.51. The firm has a market capitalization of $92.69 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.31.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.35%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 122.22%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set 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 report on Monday, September 30th.

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.