Aspiriant LLC Purchases New Shares in Enbridge Inc. (NYSE:ENB)

Aspiriant LLC acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,437 shares of the pipeline company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in Enbridge by 18.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,021 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 1,561 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Enbridge in the 1st quarter worth approximately $128,000. Park Avenue Securities LLC increased its position in Enbridge by 61.5% during the 1st quarter. Park Avenue Securities LLC now owns 42,922 shares of the pipeline company’s stock valued at $1,553,000 after buying an additional 16,343 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Enbridge by 8.3% during the first quarter. Gulf International Bank UK Ltd now owns 13,749 shares of the pipeline company’s stock valued at $497,000 after buying an additional 1,054 shares during the last quarter. Finally, &PARTNERS bought a new stake in Enbridge in the first quarter worth $600,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $41.99 on Friday. The company’s 50-day simple moving average is $40.38 and its two-hundred day simple moving average is $37.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $89.60 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.03.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 EPS. As a group, analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is currently 134.01%.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge 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.