Tevis Investment Management Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Tevis Investment Management lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, HoldingsChannel.com reports. The fund owned 65,867 shares of the pipeline company’s stock after purchasing an additional 1,558 shares during the period. Enbridge accounts for 2.0% of Tevis Investment Management’s holdings, making the stock its 13th biggest position. Tevis Investment Management’s holdings in Enbridge were worth $2,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Sei Investments Co. increased 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 valued at $9,922,000 after buying an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC boosted its position in shares of 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 purchasing an additional 13,515 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of Enbridge during the 1st quarter valued at $1,133,000. International Assets Investment Management LLC lifted its stake in shares of Enbridge by 734.1% during the 3rd quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock valued at $36,200,000 after buying an additional 784,535 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in Enbridge by 29.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock worth $6,810,000 after buying an additional 38,231 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENB. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Trading Up 0.5 %

Shares of Enbridge stock opened at $40.60 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a twelve month low of $31.68 and a twelve month high of $42.16. The business has a 50-day moving average price of $40.69 and a 200-day moving average price of $37.87. The firm has a market cap of $86.64 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.00 and a beta of 0.93.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 134.01%.

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.