Lewis Asset Management LLC Buys 600 Shares of Enbridge Inc. (NYSE:ENB)

Lewis Asset Management LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,761 shares of the pipeline company’s stock after buying an additional 600 shares during the quarter. Lewis Asset Management LLC’s holdings in Enbridge were worth $518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at about $29,000. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 2.1 %

Shares of ENB opened at $42.41 on Friday. The firm has a 50 day simple moving average of $40.82 and a two-hundred day simple moving average of $38.12. The company has a market cap of $92.36 billion, a P/E ratio of 19.63, a P/E/G ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a one year low of $32.76 and a one year high of $42.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business posted $0.46 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.38%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 122.22%.

Analysts Set New Price Targets

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

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.