Enbridge Inc. (NYSE:ENB) Stock Position Raised by Commerce Bank

Commerce Bank increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,642 shares of the pipeline company’s stock after purchasing an additional 2,584 shares during the period. Commerce Bank’s holdings in Enbridge were worth $7,539,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ENB. Richardson Financial Services Inc. grew its position in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the last quarter. First PREMIER Bank boosted its position in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Keudell Morrison Wealth Management grew its stake in shares of Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after purchasing an additional 277 shares during the period. Grove Bank & Trust raised its stake in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 1.6 %

Shares of ENB stock opened at $43.46 on Friday. The firm has a fifty day moving average of $41.34 and a 200-day moving average of $38.62. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.55. The company has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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 business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.22%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

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.