Coastline Trust Co Makes New $179,000 Investment in Enbridge Inc. (NYSE:ENB)

Coastline Trust Co purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,411 shares of the pipeline company’s stock, valued at approximately $179,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter worth approximately $29,000. Grove Bank & Trust lifted its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Down 0.6 %

Shares of NYSE:ENB opened at $42.18 on Friday. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.31. The stock’s 50-day moving average price is $41.15 and its two-hundred day moving average price is $38.45. 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 firm has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 121.76%.

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.