Caprock Group LLC Sells 1,714 Shares of Enbridge Inc. (NYSE:ENB)

Caprock Group LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% in the third quarter, Holdings Channel reports. The fund owned 33,836 shares of the pipeline company’s stock after selling 1,714 shares during the period. Caprock Group LLC’s holdings in Enbridge were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 1832 Asset Management L.P. raised its holdings in shares of Enbridge by 3.9% in the first 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 buying an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after buying an additional 827,540 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after buying an additional 644,526 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge Price Performance

Shares of ENB stock opened at $42.79 on Thursday. The stock has a 50-day moving average price of $41.29 and a 200 day moving average price of $38.59. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $93.19 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates 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. Research analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

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.