First Horizon Advisors Inc. Has $234,000 Position in Enbridge Inc. (NYSE:ENB)

First Horizon Advisors Inc. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.7% during the third quarter, Holdings Channel reports. The fund owned 5,773 shares of the pipeline company’s stock after purchasing an additional 511 shares during the period. First Horizon Advisors Inc.’s holdings in Enbridge were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

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

Enbridge Price Performance

Enbridge stock opened at $43.26 on Friday. The firm has a market cap of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock’s fifty day moving average price is $41.40 and its two-hundred day moving average price is $38.67. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.70.

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

Enbridge Increases Dividend

The firm 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 is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.25%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analysts Set New Price Targets

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

About Enbridge

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.