Inspire Advisors LLC Buys 8,057 Shares of Enbridge Inc $ENB

Inspire Advisors LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 72.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,202 shares of the pipeline company’s stock after purchasing an additional 8,057 shares during the period. Inspire Advisors LLC’s holdings in Enbridge were worth $870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. Vanguard Group Inc. grew its stake in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after buying an additional 3,217,961 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Enbridge during the second quarter valued at about $604,000. Intrust Bank NA boosted its holdings in Enbridge by 6.7% during the second quarter. Intrust Bank NA now owns 15,669 shares of the pipeline company’s stock valued at $710,000 after acquiring an additional 978 shares during the period. Rothschild Investment LLC grew its position in shares of Enbridge by 5.7% in the second quarter. Rothschild Investment LLC now owns 16,771 shares of the pipeline company’s stock valued at $760,000 after purchasing an additional 900 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Enbridge by 0.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,384,751 shares of the pipeline company’s stock worth $62,757,000 after purchasing an additional 5,041 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE:ENB opened at $48.29 on Wednesday. The firm has a market capitalization of $105.33 billion, a PE ratio of 23.79, a PEG ratio of 4.31 and a beta of 0.76. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The business’s 50 day moving average is $48.26 and its 200-day moving average is $46.85.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.55 EPS. Sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 7.8%. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENB. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

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.