5,437 Shares in Enbridge Inc. (NYSE:ENB) Bought by Aspiriant LLC

Aspiriant LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,437 shares of the pipeline company’s stock, valued at approximately $221,000.

Other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the first quarter valued at approximately $31,000. Finally, Grove Bank & Trust boosted its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Up 0.4 %

Shares of Enbridge stock opened at $41.99 on Friday. The company’s 50 day moving average price is $40.38 and its 200-day moving average price is $37.52. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.03. The stock has a market capitalization of $89.60 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

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.