Enbridge Inc. (NYSE:ENB) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 393.3% in the third quarter, HoldingsChannel.com reports. The fund owned 95,415 shares of the pipeline company’s stock after buying an additional 76,072 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $3,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its stake in Enbridge by 53.0% in the 1st quarter. AdvisorNet Financial Inc now owns 6,873 shares of the pipeline company’s stock valued at $249,000 after buying an additional 2,381 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Enbridge by 147.6% during the first quarter. Sunbelt Securities Inc. now owns 27,574 shares of the pipeline company’s stock valued at $998,000 after acquiring an additional 16,437 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Enbridge by 11.4% during the first quarter. Brookstone Capital Management now owns 46,300 shares of the pipeline company’s stock valued at $1,675,000 after acquiring an additional 4,742 shares during the last quarter. Key Client Fiduciary Advisors LLC purchased a new stake in Enbridge during the 1st quarter worth about $207,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Enbridge by 7.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $41.22 on Thursday. The stock has a market capitalization of $87.96 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth 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 52-week low of $31.31 and a 52-week high of $42.16. The stock’s fifty day simple moving average is $40.50 and its 200-day simple moving average is $37.66.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Analyst Upgrades and Downgrades

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

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.