Border to Coast Pensions Partnership Ltd Sells 50,000 Shares of Enbridge Inc. (NYSE:ENB)

Border to Coast Pensions Partnership Ltd cut its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000,000 shares of the pipeline company's stock after selling 50,000 shares during the quarter. Border to Coast Pensions Partnership Ltd's holdings in Enbridge were worth $40,549,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased 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 during the period. TruNorth Capital Management LLC bought a new stake in Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge during the 1st quarter worth about $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th.

Enbridge Price Performance

NYSE:ENB traded down $0.45 during trading hours on Monday, reaching $41.54. The company had a trading volume of 2,903,084 shares, compared to its average volume of 4,954,213. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average of $40.38 and a two-hundred day moving average of $37.55. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The firm has a market capitalization of $88.63 billion, a PE ratio of 21.37, a PEG ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the firm earned $0.51 EPS. Analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge's payout ratio is 134.01%.

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.