24,314 Enbridge Inc $ENB Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,389 shares of the pipeline company’s stock after acquiring an additional 24,314 shares during the quarter. Tectonic Advisors LLC’s holdings in Enbridge were worth $16,476,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ENB. Arlington Trust Co LLC boosted its position in shares of Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after buying an additional 267 shares during the period. GK Wealth Management LLC acquired a new stake in Enbridge in the 3rd quarter valued at approximately $25,000. Quintet Private Bank Europe S.A. raised its position in Enbridge by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. City Holding Co. lifted its stake in Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 356 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in Enbridge by 99.7% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 345 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ENB shares. Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Raymond James Financial reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Enbridge in a research report on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a report on Monday, September 14th. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Stock Up 0.2%

ENB stock traded up $0.11 during mid-day trading on Friday, reaching $48.12. The company had a trading volume of 2,687,349 shares, compared to its average volume of 4,205,146. The company has a market capitalization of $107.25 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 5.72 and a beta of 0.60. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The stock has a 50 day simple moving average of $48.47 and a two-hundred day simple moving average of $52.52. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the business earned $0.65 earnings per share. As a group, equities analysts predict that Enbridge Inc will post 2.10 earnings per share for the current fiscal year.

Enbridge Announces Dividend

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

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.