2,600 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Morse Asset Management Inc

Morse Asset Management Inc acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,600 shares of the pipeline company’s stock, valued at approximately $106,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the period. Associated Banc Corp raised its position in shares of Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 248 shares during the period. Centaurus Financial Inc. raised its position in shares of Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after purchasing an additional 256 shares during the period. First PREMIER Bank raised its position in shares of Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after purchasing an additional 257 shares during the period. Finally, Keudell Morrison Wealth Management raised its position in shares of Enbridge by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.4 %

Shares of ENB stock opened at $43.65 on Thursday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.02. The firm’s fifty day simple moving average is $41.78 and its 200 day simple moving average is $39.01. The firm has a market capitalization of $95.07 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. 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 announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were paid a dividend of $0.676 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.19%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.00.

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.