UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Enbridge Inc. (NYSE:ENB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 12.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,747,095 shares of the pipeline company's stock after selling 385,147 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Enbridge worth $111,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge in the 2nd quarter valued at $28,000. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge during the third quarter worth about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of NYSE ENB remained flat at $43.38 during midday trading on Monday. The stock had a trading volume of 8,445,800 shares, compared to its average volume of 4,867,991. The firm has a market cap of $94.48 billion, a PE ratio of 20.08, a P/E/G ratio of 4.26 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a 50-day moving average price of $41.62 and a 200 day moving average price of $38.89.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.23%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, November 15th. Enbridge's dividend payout ratio (DPR) is presently 121.76%.

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.