M. Kraus & Co Sells 1,327 Shares of Enbridge Inc. (NYSE:ENB)

M. Kraus & Co cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,886 shares of the pipeline company’s stock after selling 1,327 shares during the period. Enbridge accounts for 1.7% of M. Kraus & Co’s investment portfolio, making the stock its 27th biggest position. M. Kraus & Co’s holdings in Enbridge were worth $5,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new position in Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in Enbridge in the 1st quarter worth approximately $31,000. Finally, Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in 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. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

NYSE:ENB traded up $0.06 during trading hours on Monday, hitting $41.13. The stock had a trading volume of 603,720 shares, compared to its average volume of 5,001,494. The company has a 50 day simple moving average of $40.05 and a two-hundred day simple moving average of $37.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a one year low of $31.31 and a one year high of $41.35. The firm has a market capitalization of $87.77 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the firm earned $0.51 EPS. Research analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.51%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.50.

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.