Enbridge Inc. (NYSE:ENB) Shares Acquired by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,878 shares of the pipeline company’s stock after acquiring an additional 600 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Enbridge were worth $3,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Richardson Financial Services Inc. boosted its stake in shares of Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares during the last quarter. First PREMIER Bank raised its position in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after buying an additional 257 shares during the period. Keudell Morrison Wealth Management raised its holdings in shares of Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock worth $822,000 after purchasing an additional 277 shares during the period. Grove Bank & Trust increased its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $42.18 on Monday. The firm has a 50-day moving average of $41.15 and a two-hundred day moving average of $38.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market cap of $91.86 billion, a P/E ratio of 19.53, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared 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 represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Wall Street Analyst Weigh In

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

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.