Keudell Morrison Wealth Management Acquires 277 Shares of Enbridge Inc. (NYSE:ENB)

Keudell Morrison Wealth Management increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,242 shares of the pipeline company’s stock after acquiring an additional 277 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Enbridge were worth $822,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Montecito Bank & Trust raised its stake in shares of Enbridge by 1.5% during the 3rd quarter. Montecito Bank & Trust now owns 28,227 shares of the pipeline company’s stock worth $1,146,000 after acquiring an additional 408 shares in the last quarter. Advisor Resource Council bought a new position in shares of Enbridge during the 3rd quarter worth approximately $233,000. Maia Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter worth approximately $225,000. Radnor Capital Management LLC increased its stake in Enbridge by 9.0% during the 3rd quarter. Radnor Capital Management LLC now owns 69,864 shares of the pipeline company’s stock valued at $2,837,000 after purchasing an additional 5,775 shares in the last quarter. Finally, Callahan Advisors LLC increased its stake in Enbridge by 43.0% during the 3rd quarter. Callahan Advisors LLC now owns 138,403 shares of the pipeline company’s stock valued at $5,621,000 after purchasing an additional 41,642 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.54 during midday trading on Thursday, reaching $42.07. The company’s stock had a trading volume of 467,687 shares, compared to its average volume of 4,875,066. The firm has a market capitalization of $91.62 billion, a PE ratio of 19.23, a P/E/G ratio of 3.97 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average of $40.82 and a 200 day moving average of $38.12. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 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 earnings per share. On average, equities analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

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.