Gulf International Bank UK Ltd Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Gulf International Bank UK Ltd cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 54.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,205 shares of the pipeline company’s stock after selling 7,544 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Enbridge were worth $252,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. grew its holdings in Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the period. First PREMIER Bank grew its stake in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 257 shares during the period. Grove Bank & Trust increased its holdings in Enbridge by 56.7% in the 3rd 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. MFA Wealth Advisors LLC raised its stake in Enbridge by 55.6% in 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, Rockwood Wealth Management LLC lifted its holdings in Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Enbridge Trading Down 0.2 %

Shares of ENB opened at $42.33 on Friday. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $42.61. The stock has a market cap of $92.18 billion, a PE ratio of 19.60, a P/E/G ratio of 4.04 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business’s 50-day moving average price is $40.92 and its 200-day moving average price is $38.20.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the company posted $0.46 EPS. On average, equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 6.39%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 122.22%.

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.