Enbridge Inc $ENB Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 354,389 shares of the pipeline company’s stock after acquiring an additional 24,314 shares during the period. Tectonic Advisors LLC’s holdings in Enbridge were worth $16,476,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ENB. Deutsche Bank AG acquired a new stake in Enbridge in the 2nd quarter worth about $1,850,502,000. Ontario Teachers Pension Plan Board bought a new stake in Enbridge in the 2nd quarter valued at about $467,782,000. Bank of New York Mellon Corp bought a new stake in Enbridge in the 2nd quarter valued at about $412,627,000. Bank of America Corp DE acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $380,896,000. Finally, BlackRock Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $183,623,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock traded up $0.11 during mid-day trading on Friday, hitting $48.12. The stock had a trading volume of 2,687,349 shares, compared to its average volume of 4,205,146. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The firm has a market capitalization of $107.25 billion, a P/E ratio of 25.73, a P/E/G ratio of 5.72 and a beta of 0.60. The firm has a fifty day simple moving average of $48.47 and a 200 day simple moving average of $52.52.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the firm posted $0.65 earnings per share. As a group, research analysts forecast that Enbridge Inc will post 2.10 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a C$0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. Enbridge’s dividend payout ratio (DPR) is presently 147.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD upgraded shares of Enbridge to a “buy” rating in a research report on Tuesday, September 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Enbridge in a research note on Monday, September 14th. Scotiabank raised Enbridge to a “strong-buy” rating in a research report on Thursday, September 17th. BMO Capital Markets upgraded Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price objective on the stock in a research note on Monday, September 14th. Finally, TD Securities restated a “buy” rating on shares of Enbridge in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.