Northwest & Ethical Investments L.P. Purchases 71,995 Shares of Enbridge Inc. (NYSE:ENB)

Northwest & Ethical Investments L.P. increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 838,283 shares of the pipeline company’s stock after purchasing an additional 71,995 shares during the quarter. Enbridge makes up 0.9% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 19th largest position. Northwest & Ethical Investments L.P.’s holdings in Enbridge were worth $34,056,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the 2nd quarter valued at $28,000. Grove Bank & Trust increased its position in 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. MFA Wealth Advisors LLC lifted its holdings 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 buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Enbridge in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB traded up $0.20 during mid-day trading on Thursday, reaching $42.90. The company had a trading volume of 4,077,546 shares, compared to its average volume of 4,862,082. The company has a market capitalization of $93.44 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93. 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 company’s 50 day simple moving average is $41.52 and its 200 day simple moving average is $38.79. Enbridge Inc. has a 1-year low of $32.85 and a 1-year 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, 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 for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.30%. This is a positive change 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 (DPR) is presently 121.76%.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a 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.