Kingsview Wealth Management LLC Has $3.34 Million Stake in Enbridge Inc. (NYSE:ENB)

Kingsview Wealth Management LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 76.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 82,130 shares of the pipeline company’s stock after purchasing an additional 35,711 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Enbridge were worth $3,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Grove Bank & Trust lifted its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% during 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 period. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge in the 2nd quarter valued at $28,000. Finally, Fortitude Family Office LLC bought a new stake in Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $43.26 on Monday. The company has a market cap of $94.22 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.23 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a fifty day moving average price of $41.40 and a 200-day moving average price of $38.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results 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 net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm earned $0.46 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.25%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research reports. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.