Atomi Financial Group Inc. Has $1.05 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Atomi Financial Group Inc. boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 47.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,825 shares of the pipeline company’s stock after acquiring an additional 8,307 shares during the quarter. Atomi Financial Group Inc.’s holdings in Enbridge were worth $1,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Dynamic Advisor Solutions LLC increased its holdings in shares of Enbridge by 3.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 53,501 shares of the pipeline company’s stock worth $2,173,000 after purchasing an additional 1,720 shares during the period. Foresight Capital Management Advisors Inc. acquired a new stake in Enbridge during the third quarter worth about $2,909,000. Salvus Wealth Management LLC increased its holdings in Enbridge by 1.7% in the 3rd quarter. Salvus Wealth Management LLC now owns 18,916 shares of the pipeline company’s stock valued at $768,000 after buying an additional 315 shares during the period. MKT Advisors LLC acquired a new position in shares of Enbridge in the 3rd quarter valued at approximately $231,000. Finally, Diversified Trust Co bought a new stake in shares of Enbridge during the 3rd quarter worth approximately $1,286,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $51.50.

Enbridge Stock Performance

NYSE:ENB opened at $40.63 on Wednesday. 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 firm has a market capitalization of $86.70 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $41.35. The stock’s 50-day simple moving average is $39.78 and its 200 day simple moving average is $37.21.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

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.