Enbridge Inc. (NYSE:ENB) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,890 shares of the pipeline company’s stock after selling 1,786 shares during the period. Pathstone Holdings LLC’s holdings in Enbridge were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the second quarter valued at approximately $28,000. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at approximately $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Enbridge Trading Down 0.5 %

Shares of ENB stock opened at $43.26 on Monday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. 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 stock’s fifty day moving average is $41.40 and its two-hundred day moving average is $38.69. The firm has a market capitalization of $94.22 billion, a P/E ratio of 20.03, a PEG ratio of 4.23 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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 net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. Enbridge’s dividend payout ratio is 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.