HL Financial Services LLC Grows Stake in Enbridge Inc (ENB)

HL Financial Services LLC raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 39.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,718 shares of the pipeline company’s stock after buying an additional 21,147 shares during the period. HL Financial Services LLC’s holdings in Enbridge were worth $2,413,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. HighPoint Advisor Group LLC increased its holdings in Enbridge by 21.4% during the second quarter. HighPoint Advisor Group LLC now owns 8,094 shares of the pipeline company’s stock valued at $282,000 after buying an additional 1,427 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in shares of Enbridge by 1.3% in the second quarter. Tealwood Asset Management Inc. now owns 118,062 shares of the pipeline company’s stock worth $4,214,000 after purchasing an additional 1,502 shares during the period. Parsec Financial Management Inc. boosted its position in shares of Enbridge by 12.7% in the second quarter. Parsec Financial Management Inc. now owns 13,402 shares of the pipeline company’s stock worth $478,000 after purchasing an additional 1,506 shares during the period. First Allied Advisory Services Inc. boosted its position in shares of Enbridge by 4.6% in the second quarter. First Allied Advisory Services Inc. now owns 35,496 shares of the pipeline company’s stock worth $1,270,000 after purchasing an additional 1,546 shares during the period. Finally, Fieldpoint Private Securities LLC boosted its position in shares of Enbridge by 12.0% in the second quarter. Fieldpoint Private Securities LLC now owns 14,480 shares of the pipeline company’s stock worth $517,000 after purchasing an additional 1,550 shares during the period. 58.28% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ENB opened at $32.90 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.47. Enbridge Inc has a fifty-two week low of $29.00 and a fifty-two week high of $41.21. The firm has a market cap of $57.11 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.38 and a beta of 0.53.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.20%. Enbridge’s dividend payout ratio is 132.47%.

A number of equities analysts have weighed in on ENB shares. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, October 8th. UBS Group started coverage on shares of Enbridge in a research report on Thursday, October 4th. They issued a “buy” rating for the company. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $50.00 in a research report on Friday, August 17th. Morgan Stanley upped their price target on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Finally, ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Enbridge currently has a consensus rating of “Buy” and an average price target of $49.17.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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