Financial Management Professionals Inc. Has $46,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Financial Management Professionals Inc. grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 141.3% in the third quarter, Holdings Channel reports. The institutional investor owned 1,127 shares of the pipeline company’s stock after acquiring an additional 660 shares during the period. Financial Management Professionals Inc.’s holdings in Enbridge were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC raised its position in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in Enbridge in the first quarter worth about $1,133,000. U.S. Capital Wealth Advisors LLC raised its position in Enbridge by 29.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock worth $6,810,000 after acquiring an additional 38,231 shares during the period. Finally, Vanguard Group Inc. raised its position in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $40.94 on Monday. The firm’s 50-day simple moving average is $40.60 and its two-hundred day simple moving average is $37.76. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market cap of $87.36 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Company 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.