U.S. Capital Wealth Advisors LLC Grows Position in Enbridge Inc. (NYSE:ENB)

by · The Markets Daily

U.S. Capital Wealth Advisors LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 29.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 167,701 shares of the pipeline company’s stock after purchasing an additional 38,231 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Enbridge were worth $6,810,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. TruNorth Capital Management LLC bought a new position in Enbridge in the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in Enbridge during the first quarter valued at about $31,000. Finally, Grove Bank & Trust grew its stake in Enbridge by 56.7% in 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. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.6 %

Shares of ENB stock traded down $0.24 during trading hours on Wednesday, reaching $41.21. 681,581 shares of the company’s stock were exchanged, compared to its average volume of 4,922,446. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The company has a market cap of $87.94 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.16. The stock’s 50 day moving average is $40.47 and its 200-day moving average is $37.63.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the business posted $0.51 earnings per share. Analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. Enbridge’s dividend payout ratio is currently 134.01%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on ENB

About Enbridge

(Free Report)

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.

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