Hartline Investment Corp Has $1.06 Million Holdings in Enbridge Inc. (NYSE:ENB)

Hartline Investment Corp grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,035 shares of the pipeline company’s stock after purchasing an additional 1,850 shares during the period. Hartline Investment Corp’s holdings in Enbridge were worth $1,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter valued at about $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $29,000. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% during 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. Finally, MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research reports. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Price Performance

Shares of ENB stock opened at $42.18 on Wednesday. The stock’s fifty day simple moving average is $41.01 and its 200 day simple moving average is $38.32. Enbridge Inc. has a one year low of $32.76 and a one year high of $43.00. The firm has a market cap of $91.84 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.16 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the company earned $0.46 EPS. On average, analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

About Enbridge

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.