CWA Asset Management Group LLC Acquires New Position in Enbridge Inc. (NYSE:ENB)

CWA Asset Management Group LLC acquired a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,190 shares of the pipeline company's stock, valued at approximately $1,104,000.

Other large investors have also modified their holdings of the company. Grove Bank & Trust raised its position in shares of 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 during the last quarter. MFA Wealth Advisors LLC grew its stake 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 acquiring an additional 280 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company.

Enbridge Stock Up 1.1 %

Enbridge stock traded up $0.46 during mid-day trading on Monday, reaching $42.79. 1,788,845 shares of the company's stock were exchanged, compared to its average volume of 4,878,112. The company has a market cap of $93.18 billion, a P/E ratio of 19.75, a P/E/G ratio of 4.11 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $42.89. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $40.92 and a 200-day moving average of $38.23.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 analyst estimates of $4.54 billion. During the same period last year, the business earned $0.46 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed 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 is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.32%. The ex-dividend date is Friday, November 15th. Enbridge's dividend payout ratio (DPR) is presently 122.22%.

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.