Cedar Wealth Management LLC Purchases 872 Shares of Enbridge Inc. (NYSE:ENB)

Cedar Wealth Management LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,410 shares of the pipeline company’s stock after purchasing an additional 872 shares during the quarter. Cedar Wealth Management LLC’s holdings in Enbridge were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the period. Pinnacle Financial Partners Inc lifted its position in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the period. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after acquiring an additional 19,344 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $42.95 on Wednesday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.31. The firm has a 50 day moving average price of $41.23 and a 200-day moving average price of $38.56. The firm has a market capitalization of $93.55 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 4.10 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.30%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.