Powers Advisory Group LLC Has $266,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Powers Advisory Group LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,558 shares of the pipeline company’s stock after purchasing an additional 380 shares during the quarter. Powers Advisory Group LLC’s holdings in Enbridge were worth $266,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank grew its stake in Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 257 shares during the period. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. Rockwood Wealth Management LLC increased its stake in shares of Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after acquiring an additional 298 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 0.3 %

ENB stock opened at $41.98 on Friday. The firm has a market capitalization of $89.58 billion, a PE ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $42.03. The stock’s 50 day moving average is $40.38 and its 200-day moving average is $37.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business posted $0.51 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

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

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.