Crossmark Global Holdings Inc. Lowers Position in Enbridge Inc. (NYSE:ENB)

Crossmark Global Holdings Inc. cut its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 48.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,140 shares of the pipeline company's stock after selling 64,444 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Enbridge were worth $2,808,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Enbridge by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company's stock worth $253,000 after purchasing an additional 1,136 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Enbridge during the first quarter valued at approximately $347,000. Concurrent Investment Advisors LLC boosted its stake in Enbridge by 3.2% in the first quarter. Concurrent Investment Advisors LLC now owns 24,193 shares of the pipeline company's stock valued at $875,000 after acquiring an additional 740 shares in the last quarter. Sei Investments Co. grew its holdings in Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company's stock worth $9,922,000 after purchasing an additional 15,650 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Enbridge by 21.2% in the first quarter. US Bancorp DE now owns 461,607 shares of the pipeline company's stock worth $16,701,000 after purchasing an additional 80,711 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENB shares. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research 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 note on Friday, October 25th. They set an "equal weight" rating on the stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.79 on Tuesday, hitting $41.99. 1,354,546 shares of the company were exchanged, compared to its average volume of 4,865,732. The firm has a market capitalization of $91.44 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $43.00. The stock's 50 day moving average price is $40.98 and its 200 day moving average price is $38.28.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results 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 company had revenue of $10.91 billion during the quarter, compared to analysts' expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the firm posted $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company 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 $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.44%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 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.