Versor Investments LP Purchases 800 Shares of Enbridge Inc. (NYSE:ENB)

Versor Investments LP grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.5% in the third quarter, HoldingsChannel reports. The firm owned 9,200 shares of the pipeline company’s stock after buying an additional 800 shares during the quarter. Versor Investments LP’s holdings in Enbridge were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ENB. TruNorth Capital Management LLC purchased a new stake in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the first quarter worth about $29,000. Grove Bank & Trust increased its stake in Enbridge by 56.7% during 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 last quarter. Finally, MFA Wealth Advisors LLC raised 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 valued at $32,000 after purchasing an additional 280 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $42.18 on Friday. The stock has a 50 day moving average price of $41.11 and a 200 day moving average price of $38.39. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $43.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market capitalization of $91.86 billion, a P/E ratio of 19.47, a P/E/G ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate 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 company earned $0.46 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid 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 yield of 6.41%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is currently 122.22%.

Wall Street Analysts Forecast Growth

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

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.