Acorn Wealth Advisors LLC Buys 291 Shares of Enbridge Inc. (NYSE:ENB)

Acorn Wealth Advisors LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,093 shares of the pipeline company’s stock after purchasing an additional 291 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Enbridge were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. TruNorth Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter worth approximately $28,000. Grove Bank & Trust grew its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised 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 buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge in the third quarter worth $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.5 %

Shares of NYSE ENB traded up $0.20 during trading hours on Monday, hitting $43.46. 356,267 shares of the company traded hands, compared to its average volume of 4,834,835. The stock has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 4.21 and a beta of 0.93. The company’s 50 day moving average price is $41.40 and its 200 day moving average price is $38.69. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 6.22%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ENB. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.