Enbridge Inc. (NYSE:ENB) Shares Purchased by White Knight Strategic Wealth Advisors LLC

White Knight Strategic Wealth Advisors LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,605 shares of the pipeline company’s stock after acquiring an additional 900 shares during the quarter. Enbridge accounts for 0.9% of White Knight Strategic Wealth Advisors LLC’s portfolio, making the stock its 25th largest position. White Knight Strategic Wealth Advisors LLC’s holdings in Enbridge were worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the second quarter valued at 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 lifted its stake in shares of 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 purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC boosted 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 purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge in the third quarter valued at $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of Enbridge stock opened at $43.39 on Friday. The business’s fifty day moving average price is $41.62 and its 200 day moving average price is $38.86. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $94.51 billion, a P/E ratio of 20.09, a PEG ratio of 4.22 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company posted $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.23%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

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

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.