Manchester Financial Inc. Purchases New Position in Enbridge Inc. (NYSE:ENB)

Manchester Financial Inc. acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, Holdings Channel.com reports. The firm acquired 5,151 shares of the pipeline company’s stock, valued at approximately $209,000.

Other hedge funds have also bought and sold shares of the company. Smith Salley Wealth Management grew its holdings in Enbridge by 6.4% during the 3rd quarter. Smith Salley Wealth Management now owns 63,997 shares of the pipeline company’s stock valued at $2,599,000 after buying an additional 3,835 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Enbridge by 0.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock valued at $17,734,000 after acquiring an additional 2,753 shares during the period. First Bank & Trust grew its stake in Enbridge by 0.6% during the third quarter. First Bank & Trust now owns 87,720 shares of the pipeline company’s stock valued at $3,562,000 after acquiring an additional 564 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Enbridge by 0.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 759,556 shares of the pipeline company’s stock worth $30,848,000 after acquiring an additional 4,551 shares during the period. Finally, Consolidated Portfolio Review Corp bought a new stake in Enbridge during the third quarter valued at $278,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ENB shares. Morgan Stanley started coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

NYSE ENB opened at $40.94 on Friday. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.16. The company has a fifty day moving average of $40.60 and a 200-day moving average of $37.74. The company has a market capitalization of $89.16 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 137.50%.

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.