Glenmede Trust Co. NA Sells 1,623 Shares of Enbridge Inc. (NYSE:ENB)

Glenmede Trust Co. NA lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,542 shares of the pipeline company’s stock after selling 1,623 shares during the quarter. Glenmede Trust Co. NA’s holdings in Enbridge were worth $2,134,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Cibc World Market Inc. increased its position 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 purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position 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 purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

ENB opened at $43.38 on Monday. The business has a fifty day moving average of $41.62 and a 200 day moving average of $38.89. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. 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 stock has a market cap of $94.48 billion, a P/E ratio of 20.08, a PEG ratio of 4.26 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the business earned $0.46 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were issued a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, November 15th. Enbridge’s dividend payout ratio is currently 121.76%.

Enbridge Company 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.