Keudell Morrison Wealth Management Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Keudell Morrison Wealth Management raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,242 shares of the pipeline company’s stock after acquiring an additional 277 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Enbridge were worth $822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Pathway Financial Advisers LLC lifted its holdings in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. M&G Plc purchased a new position in shares of Enbridge in the first quarter worth about $152,843,000. Cibc World Market Inc. lifted its stake in shares of 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 buying an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. Finally, National Bank of Canada FI raised its stake in Enbridge by 11.3% during the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after purchasing an additional 2,203,123 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.3 %

Shares of ENB traded up $0.54 during trading on Thursday, reaching $42.07. 467,687 shares of the company traded hands, compared to its average volume of 4,875,066. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $42.16. The stock has a market cap of $91.62 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93. The stock has a 50-day simple moving average of $40.82 and a 200-day simple moving average of $38.12. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

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 analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.43%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 122.22%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday.

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.