WESPAC Advisors LLC Purchases 1,953 Shares of Enbridge Inc. (NYSE:ENB)

WESPAC Advisors LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,239 shares of the pipeline company’s stock after purchasing an additional 1,953 shares during the quarter. WESPAC Advisors LLC’s holdings in Enbridge were worth $659,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of NYSE:ENB opened at $43.26 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70. The stock’s 50 day moving average is $41.40 and its 200-day moving average is $38.68. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $94.22 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.23 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm 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 company posted $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business 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 dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.25%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 121.76%.

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.