Metis Global Partners LLC Increases Holdings in Enbridge Inc. (NYSE:ENB)

Metis Global Partners LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 198,935 shares of the pipeline company’s stock after acquiring an additional 29,873 shares during the period. Metis Global Partners LLC’s holdings in Enbridge were worth $8,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge during the 1st quarter valued at about $29,000. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.5 %

Shares of ENB opened at $42.71 on Thursday. 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 business has a fifty day moving average of $41.06 and a 200 day moving average of $38.35. The company has a market cap of $93.01 billion, a PE ratio of 19.68, a P/E/G ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $43.00.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.33%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 122.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Company 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.