Rowlandmiller & PARTNERS.ADV Makes New $104,000 Investment in Enbridge Inc. (NYSE:ENB)

Rowlandmiller & PARTNERS.ADV purchased a new position in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,551 shares of the pipeline company’s stock, valued at approximately $104,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc raised its stake in Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after purchasing an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Shares of NYSE:ENB opened at $41.15 on Friday. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.16. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $87.81 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The company has a 50 day moving average of $40.50 and a two-hundred day moving average of $37.66.

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

Enbridge Cuts Dividend

The business 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 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Read Our Latest Analysis on Enbridge

About Enbridge

(Free Report)

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.

Featured Stories

• Five stocks we like better than Enbridge
• When to Sell a Stock for Profit or Loss
• Rocket Lab Stock Soars Higher: Can It Keep Climbing?
• Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
• Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
• Technology Stocks Explained: Here’s What to Know About Tech
• Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB).