Enbridge Inc. (NYSE:ENB) Stock Holdings Increased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,893 shares of the pipeline company’s stock after buying an additional 6,683 shares during the period. Apollon Wealth Management LLC’s holdings in Enbridge were worth $2,311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tacita Capital Inc grew its holdings in shares of Enbridge by 1.7% in the 3rd quarter. Tacita Capital Inc now owns 66,028 shares of the pipeline company’s stock worth $2,686,000 after acquiring an additional 1,093 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Enbridge by 2.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 18,753 shares of the pipeline company’s stock valued at $762,000 after purchasing an additional 516 shares during the period. Versor Investments LP increased its stake in Enbridge by 9.5% in the 3rd quarter. Versor Investments LP now owns 9,200 shares of the pipeline company’s stock worth $374,000 after purchasing an additional 800 shares in the last quarter. Loudon Investment Management LLC raised its holdings in Enbridge by 4.9% during the 3rd quarter. Loudon Investment Management LLC now owns 19,261 shares of the pipeline company’s stock worth $782,000 after buying an additional 900 shares during the period. Finally, Meixler Investment Management Ltd. acquired a new position in shares of Enbridge in the third quarter worth about $761,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.8 %

ENB stock opened at $42.51 on Thursday. The company has a 50 day moving average of $41.01 and a two-hundred day moving average of $38.32. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.00. The company has a market cap of $92.56 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered 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.