Entropy Technologies LP Makes New $624,000 Investment in Enbridge Inc. (NYSE:ENB)

Entropy Technologies LP purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,361 shares of the pipeline company’s stock, valued at approximately $624,000.

A number of other large investors also recently bought and sold shares of the stock. Apollon Wealth Management LLC raised its stake in shares of Enbridge by 13.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 56,893 shares of the pipeline company’s stock valued at $2,311,000 after acquiring an additional 6,683 shares during the period. Tacita Capital Inc increased its position in shares of Enbridge by 1.7% in the 3rd quarter. Tacita Capital Inc now owns 66,028 shares of the pipeline company’s stock worth $2,686,000 after purchasing an additional 1,093 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Enbridge by 2.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 18,753 shares of the pipeline company’s stock worth $762,000 after purchasing an additional 516 shares during the last quarter. Versor Investments LP increased its position in shares of Enbridge by 9.5% in the 3rd quarter. Versor Investments LP now owns 9,200 shares of the pipeline company’s stock worth $374,000 after purchasing an additional 800 shares during the last quarter. Finally, Loudon Investment Management LLC increased its position in shares of Enbridge by 4.9% in the 3rd quarter. Loudon Investment Management LLC now owns 19,261 shares of the pipeline company’s stock worth $782,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.4 %

Enbridge stock opened at $43.10 on Friday. 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 50-day moving average price of $41.06 and a two-hundred day moving average price of $38.35. The firm has a market capitalization of $93.86 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business posted $0.46 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 122.22%.

Analysts Set New Price Targets

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

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.