Cerity Partners LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

Cerity Partners LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 190,814 shares of the pipeline company’s stock after purchasing an additional 12,154 shares during the period. Cerity Partners LLC’s holdings in Enbridge were worth $7,749,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. 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 valued at $32,000 after purchasing an additional 280 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC purchased a new stake in Enbridge in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent research reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley began 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 research report on Monday, September 30th.

Enbridge Stock Up 0.5 %

Enbridge stock opened at $42.90 on Thursday. The business’s 50-day moving average price is $41.52 and its 200 day moving average price is $38.79. 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 firm has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced 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 is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.30%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.