M&G Plc Sells 393,014 Shares of Enbridge Inc. (NYSE:ENB)

M&G PLC decreased its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,667,255 shares of the pipeline company's stock after selling 393,014 shares during the quarter. Enbridge accounts for approximately 0.8% of M&G PLC's investment portfolio, making the stock its 28th biggest holding. M&G PLC owned 0.17% of Enbridge worth $149,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its position 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 in the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the second quarter valued at approximately $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter valued at approximately $29,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

NYSE ENB traded up $0.89 during trading on Thursday, hitting $42.42. 4,490,849 shares of the company's stock traded hands, compared to its average volume of 4,893,692. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. The stock has a market capitalization of $92.38 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $42.61. The business has a 50 day moving average of $40.82 and a 200-day moving average of $38.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.46 earnings per share. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge's dividend payout ratio is presently 122.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENB shares. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating for the company.

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.