Enbridge Inc. (NYSE:ENB) Position Raised by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 66.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,833 shares of the pipeline company's stock after buying an additional 13,515 shares during the quarter. Stonegate Investment Group LLC's holdings in Enbridge were worth $1,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First PREMIER Bank raised its holdings in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock worth $631,000 after purchasing an additional 257 shares during the period. Grove Bank & Trust raised its stake in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares during the period. Rockwood Wealth Management LLC lifted its holdings in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company's stock worth $395,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company's stock valued at $294,000 after acquiring an additional 298 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company's stock valued at $649,000 after purchasing an additional 298 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th.

Enbridge Trading Up 0.4 %

Enbridge stock opened at $41.99 on Friday. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.03. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $89.60 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.94 and a beta of 0.93. The firm has a 50-day moving average price of $40.38 and a two-hundred day moving average price of $37.52.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the firm posted $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date was Thursday, August 15th. Enbridge's dividend payout ratio is currently 134.01%.

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.