Kennebec Savings Bank Purchases Shares of 12,830 Enbridge Inc. (NYSE:ENB)

Kennebec Savings Bank bought a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the third quarter, according to its most recent filing with the SEC. The firm bought 12,830 shares of the pipeline company's stock, valued at approximately $521,000.

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

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 1.2 %

Enbridge stock traded up $0.52 during mid-day trading on Monday, reaching $42.85. The company's stock had a trading volume of 1,260,462 shares, compared to its average volume of 4,875,688. The business's 50 day simple moving average is $40.92 and its 200 day simple moving average is $38.23. Enbridge Inc. has a 12 month low of $32.76 and a 12 month high of $42.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. The company has a market capitalization of $93.31 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its 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 return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the company posted $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.31%. Enbridge's payout ratio is currently 122.22%.

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.