WESPAC Advisors LLC Increases Stock Position in Enbridge Inc. (NYSE:ENB)

WESPAC Advisors LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,239 shares of the pipeline company’s stock after purchasing an additional 1,953 shares during the quarter. WESPAC Advisors LLC’s holdings in Enbridge were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ENB. Pathway Financial Advisers LLC boosted its position in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. raised its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after acquiring an additional 1,472,789 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.5 %

ENB opened at $43.26 on Friday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a market cap of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.23 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average of $41.40 and a 200 day moving average of $38.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the business earned $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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.25%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a 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.