Atria Investments Inc Sells 29,873 Shares of Enbridge Inc. (NYSE:ENB)

Atria Investments Inc reduced its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 26.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 82,204 shares of the pipeline company's stock after selling 29,873 shares during the quarter. Atria Investments Inc's holdings in Enbridge were worth $3,338,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company's stock valued at $9,922,000 after purchasing an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC grew its position in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock worth $1,374,000 after acquiring an additional 13,515 shares in the last quarter. Lindbrook Capital LLC raised its position in Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company's stock valued at $882,000 after purchasing an additional 19,344 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Enbridge in the 1st quarter worth approximately $1,133,000. Finally, International Assets Investment Management LLC raised its stake in shares of Enbridge by 734.1% during the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company's stock worth $36,200,000 after acquiring an additional 784,535 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock.

Enbridge Stock Up 1.4 %

Shares of Enbridge stock traded up $0.61 during midday trading on Thursday, hitting $43.10. The company had a trading volume of 5,623,901 shares, compared to its average volume of 4,876,185. 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 company has a 50 day moving average of $41.06 and a 200 day moving average of $38.35. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $43.31. The stock has a market capitalization of $93.86 billion, a P/E ratio of 19.82, a P/E/G ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating 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 company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge's payout ratio is currently 122.22%.

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.