Consolidated Portfolio Review Corp Buys New Holdings in Enbridge Inc. (NYSE:ENB)

Consolidated Portfolio Review Corp purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,837 shares of the pipeline company’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge during the 1st quarter valued at approximately $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 acquiring an additional 279 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $40.94 on Friday. The stock has a market cap of $89.16 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a 50 day moving average price of $40.60 and a 200-day moving average price of $37.74. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for 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 in the previous year, the business posted $0.51 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

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

Analyst Ratings Changes

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

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.