Octavia Wealth Advisors LLC Sells 308 Shares of Enbridge Inc. (NYSE:ENB)

Octavia Wealth Advisors LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,727 shares of the pipeline company’s stock after selling 308 shares during the period. Octavia Wealth Advisors LLC’s holdings in Enbridge were worth $314,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ENB. Sei Investments Co. boosted its stake in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System bought a new position in Enbridge in the first quarter worth about $1,133,000. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Enbridge in the 1st quarter worth approximately $4,069,000. Finally, US Bancorp DE raised its stake in shares of Enbridge by 21.2% during the 1st quarter. US Bancorp DE now owns 461,607 shares of the pipeline company’s stock worth $16,701,000 after acquiring an additional 80,711 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.50.

Enbridge Trading Up 0.5 %

Shares of Enbridge stock opened at $41.07 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $41.35. The firm has a 50-day simple moving average of $40.05 and a two-hundred day simple moving average of $37.34. The company has a market cap of $87.64 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.52%. Enbridge’s dividend payout ratio (DPR) is presently 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.