Atlanta Consulting Group Advisors LLC Acquires New Stake in Enbridge Inc. (NYSE:ENB)

Atlanta Consulting Group Advisors LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 32,718 shares of the pipeline company’s stock, valued at approximately $1,329,000.

A number of other hedge funds have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% during 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. Finally, MFA Wealth Advisors LLC boosted its holdings in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $42.18 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $91.86 billion, a P/E ratio of 19.53, a PEG ratio of 4.10 and a beta of 0.93. The stock has a 50-day moving average price of $41.15 and a 200-day moving average price of $38.45. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 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 company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the company earned $0.46 EPS. Equities analysts predict that Enbridge Inc. will post 2.06 earnings per share 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 issued a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is currently 122.22%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ENB shares. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.