Atlanta Consulting Group Advisors LLC Buys New Position in Enbridge Inc. (NYSE:ENB)

Atlanta Consulting Group Advisors LLC acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,718 shares of the pipeline company’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. raised its stake 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. Pinnacle Financial Partners Inc lifted its holdings in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares during the period. Stonegate Investment Group LLC lifted its holdings in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Enbridge by 816.2% in the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares during the period. Finally, Ted Buchan & Co boosted its stake in shares of Enbridge by 43.5% during the 3rd quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock worth $1,985,000 after acquiring an additional 14,791 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Stock Down 0.6 %

Shares of ENB opened at $42.18 on Friday. 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 52-week low of $32.76 and a 52-week high of $43.31. The company has a market cap of $91.86 billion, a PE ratio of 19.53, a P/E/G ratio of 4.10 and a beta of 0.93. The business has a fifty day moving average of $41.15 and a 200 day moving average of $38.45.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is 122.22%.

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.