Verity & Verity LLC Grows Holdings in Enbridge Inc. (NYSE:ENB)

Verity & Verity LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 496,063 shares of the pipeline company's stock after acquiring an additional 14,498 shares during the quarter. Enbridge accounts for approximately 2.0% of Verity & Verity LLC's investment portfolio, making the stock its 16th biggest position. Verity & Verity LLC's holdings in Enbridge were worth $20,145,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in shares of Enbridge by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company's stock valued at $253,000 after purchasing an additional 1,136 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Enbridge during the first quarter worth $1,133,000. Orion Portfolio Solutions LLC raised its stake in shares of Enbridge by 8.6% in the first quarter. Orion Portfolio Solutions LLC now owns 45,578 shares of the pipeline company's stock valued at $1,649,000 after acquiring an additional 3,610 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Enbridge in the first quarter valued at $1,146,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter valued at about $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.9 %

ENB stock traded up $0.39 during trading on Tuesday, hitting $42.95. 3,344,993 shares of the company's stock were exchanged, compared to its average volume of 4,868,818. The business has a 50-day moving average price of $41.23 and a two-hundred day moving average price of $38.56. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $93.55 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.31.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company earned $0.46 earnings per share. As a group, equities research analysts expect 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. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. Enbridge's dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent research reports. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock. Finally, Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th.

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.