Wealth Enhancement Advisory Services LLC Has $30.85 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Wealth Enhancement Advisory Services LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 759,556 shares of the pipeline company’s stock after acquiring an additional 4,551 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $30,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Consolidated Portfolio Review Corp acquired a new stake in Enbridge during the third quarter worth approximately $278,000. Pathway Financial Advisers LLC lifted its position in shares of Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the period. Parcion Private Wealth LLC grew its holdings in shares of Enbridge by 85.6% during the 3rd quarter. Parcion Private Wealth LLC now owns 21,080 shares of the pipeline company’s stock worth $856,000 after purchasing an additional 9,722 shares in the last quarter. Lyell Wealth Management LP bought a new position in shares of Enbridge in the third quarter worth $227,000. Finally, Highland Capital Management LLC acquired a new position in Enbridge in the third quarter valued at about $205,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5 %

Shares of NYSE ENB opened at $40.94 on Monday. The company has a market cap of $87.36 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 4.00 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.16. The stock has a 50-day moving average price of $40.60 and a two-hundred day moving average price of $37.76.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.28 billion. During the same period in the prior year, the company earned $0.51 EPS. As a group, analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Wall Street Analyst Weigh In

Several research firms have commented on ENB. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note 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.