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

Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the third quarter, according to its most recent filing with the SEC. The firm purchased 32,718 shares of the pipeline company's stock, valued at approximately $1,329,000.

Several other institutional investors have also modified their holdings of ENB. Natixis Advisors LLC raised its position in shares of Enbridge by 39.6% during the 3rd quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company's stock worth $7,839,000 after purchasing an additional 54,737 shares during the last quarter. Euro Pacific Asset Management LLC raised its holdings in shares of Enbridge by 3.2% in the third quarter. Euro Pacific Asset Management LLC now owns 10,140 shares of the pipeline company's stock worth $417,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Enbridge in the third quarter worth $179,000. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after acquiring an additional 936,863 shares during the last quarter. Finally, Lifeworks Advisors LLC purchased a new stake in Enbridge during the 3rd quarter worth about $229,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.26 on Friday, reaching $42.18. 5,556,438 shares of the company's stock were exchanged, compared to its average volume of 3,860,985. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.31. The business's 50-day moving average is $41.15 and its two-hundred day moving average is $38.45. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $91.86 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data 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. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts forecast 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. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend 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 currently 122.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ENB. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating for the company.

About Enbridge

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.