Loudon Investment Management LLC Acquires 900 Shares of Enbridge Inc. (NYSE:ENB)

by · The Markets Daily

Loudon Investment Management LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,261 shares of the pipeline company’s stock after acquiring an additional 900 shares during the period. Loudon Investment Management LLC’s holdings in Enbridge were worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Grove Bank & Trust increased its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Enbridge by 55.6% in the third 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 period. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter valued at approximately $28,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Enbridge in the 1st quarter worth approximately $29,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.5 %

NYSE ENB traded up $0.23 during trading on Monday, hitting $42.56. The stock had a trading volume of 328,796 shares, compared to its average volume of 4,871,415. 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 stock has a 50 day simple moving average of $40.92 and a 200 day simple moving average of $38.23. Enbridge Inc. has a one year low of $32.76 and a one year high of $42.61. The stock has a market capitalization of $92.68 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its earnings results 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.35%. Enbridge’s dividend payout ratio is presently 122.22%.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on Enbridge

Enbridge Profile

(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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