Cumberland Partners Ltd trimmed its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 37.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,975 shares of the pipeline company's stock after selling 21,140 shares during the period. Cumberland Partners Ltd's holdings in Enbridge were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge in the first quarter worth about $29,000. Grove Bank & Trust lifted its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 279 shares during the period. Finally, 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. Institutional investors own 54.60% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an "equal weight" rating on the stock. Finally, Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th.
View Our Latest Stock Analysis on ENB
Enbridge Stock Down 1.4 %
Shares of NYSE ENB traded down $0.61 during mid-day trading on Tuesday, reaching $42.18. 4,038,752 shares of the company's stock were exchanged, compared to its average volume of 4,877,988. 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 twelve month low of $32.76 and a twelve month high of $43.00. The business has a fifty day simple moving average of $40.98 and a 200 day simple moving average of $38.28. The firm has a market capitalization of $91.84 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 4.11 and a beta of 0.93.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS 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 business 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 company earned $0.46 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.
Enbridge Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge's payout ratio is presently 121.76%.
About Enbridge
(
Free Report)
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.
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