Atlas Capital Advisors LLC Takes $192,000 Position in Enbridge Inc (ENB)

Atlas Capital Advisors LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,673 shares of the pipeline company’s stock, valued at approximately $192,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Welch Group LLC acquired a new stake in Enbridge during the second quarter valued at approximately $109,000. Legacy Advisors LLC acquired a new stake in Enbridge during the third quarter valued at approximately $115,000. Girard Partners LTD. acquired a new stake in Enbridge during the third quarter valued at approximately $116,000. Spectrum Management Group Inc. acquired a new stake in Enbridge during the second quarter valued at approximately $119,000. Finally, Centersquare Investment Management LLC boosted its holdings in Enbridge by 93.0% during the second quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after purchasing an additional 1,740 shares in the last quarter. 55.08% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ENB opened at $33.47 on Friday. Enbridge Inc has a 1 year low of $29.00 and a 1 year high of $41.21. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49. The company has a market capitalization of $60.32 billion, a PE ratio of 21.73, a PEG ratio of 1.28 and a beta of 0.53.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Wednesday, November 14th. Enbridge’s dividend payout ratio (DPR) is currently 132.47%.

A number of research firms have weighed in on ENB. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday, October 8th. UBS Group began coverage on Enbridge in a report on Thursday, October 4th. They set a “buy” rating on the stock. Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Bank of America raised Enbridge from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $49.17.

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Enbridge 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.

Further Reading: What does EPS mean?

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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