Rowlandmiller & PARTNERS.ADV Acquires New Holdings in Enbridge Inc. (NYSE:ENB)

Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,551 shares of the pipeline company’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the 1st quarter worth about $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the 1st quarter worth about $31,000. Finally, Grove Bank & Trust increased its stake in 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 purchasing an additional 279 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Down 0.2 %

Shares of NYSE ENB opened at $41.15 on Friday. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The firm has a market capitalization of $87.81 billion, a PE ratio of 20.89, a PEG ratio of 3.94 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. The business has a 50-day moving average price of $40.50 and a two-hundred day moving average price of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company earned $0.51 EPS. As a group, analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.50%. Enbridge’s dividend payout ratio is 134.01%.

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.