Leo Wealth LLC Acquires 1,000 Shares of Enbridge Inc. (NYSE:ENB)

Leo Wealth LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,568 shares of the pipeline company’s stock after acquiring an additional 1,000 shares during the quarter. Leo Wealth LLC’s holdings in Enbridge were worth $307,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the 3rd 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 last quarter. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge during the 1st quarter valued at $29,000. Finally, Richardson Financial Services Inc. bought a new stake in Enbridge during the 1st quarter valued at $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.2 %

NYSE:ENB opened at $41.46 on Wednesday. The company has a fifty day moving average of $40.47 and a 200 day moving average of $37.63. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. 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 $88.46 billion, a P/E ratio of 21.04, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business earned $0.51 EPS. On average, research analysts predict 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. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.46%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analyst Weigh In

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

Enbridge 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.