Pathway Financial Advisers LLC Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Pathway Financial Advisers LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4,120.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,571,669 shares of the pipeline company’s stock after buying an additional 4,463,335 shares during the quarter. Enbridge makes up approximately 1.2% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 25th largest position. Pathway Financial Advisers LLC owned about 0.21% of Enbridge worth $185,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ENB. TruNorth Capital Management LLC purchased a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the first quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth $31,000. Finally, Grove Bank & Trust lifted its stake in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Down 0.5 %

Shares of ENB traded down $0.19 during mid-day trading on Friday, hitting $40.94. 3,119,480 shares of the company’s stock were exchanged, compared to its average volume of 2,646,088. The stock’s 50-day moving average is $40.55 and its 200-day moving average is $37.68. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.16. The company has a market cap of $89.16 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company posted $0.51 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is presently 137.50%.

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.