Auxier Asset Management Invests $204,000 in Enbridge Inc. (NYSE:ENB)

Auxier Asset Management purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,030 shares of the pipeline company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter valued at about $28,000. Grove Bank & Trust raised its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC grew its position in shares of Enbridge by 55.6% during 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. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge during the 3rd quarter worth approximately $35,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.5 %

Shares of ENB opened at $42.90 on Friday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The company has a market capitalization of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.22 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 firm’s 50 day simple moving average is $41.57 and its 200 day simple moving average is $38.82.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company 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 period last year, the firm posted $0.46 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ENB shares. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group cut 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 report on Wednesday, November 6th.

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.