U.S. Capital Wealth Advisors LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

U.S. Capital Wealth Advisors LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 29.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 167,701 shares of the pipeline company’s stock after acquiring an additional 38,231 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Enbridge were worth $6,810,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of Enbridge during the 1st quarter valued at approximately $152,843,000. Cibc World Market Inc. increased its holdings in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the period. National Bank of Canada FI increased its stake in shares of Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after purchasing an additional 2,203,123 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Enbridge Price Performance

Shares of Enbridge stock traded down $0.24 during mid-day trading on Wednesday, reaching $41.21. 681,581 shares of the stock traded hands, compared to its average volume of 4,922,446. The stock has a market capitalization of $87.94 billion, a PE ratio of 20.99, a PEG ratio of 3.94 and a beta of 0.93. The business has a 50-day moving average of $40.47 and a 200 day moving average of $37.63. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two 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.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the company earned $0.51 EPS. On average, analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.49%. Enbridge’s payout ratio is presently 134.01%.

Enbridge Company 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.