HF Advisory Group LLC Sells 731 Shares of Enbridge Inc. (NYSE:ENB)

HF Advisory Group LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,309 shares of the pipeline company’s stock after selling 731 shares during the quarter. HF Advisory Group LLC’s holdings in Enbridge were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ENB. Pathway Financial Advisers LLC grew its holdings in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares in the last quarter. M&G Plc bought a new position in Enbridge in the 1st quarter valued at $152,843,000. Cibc World Market Inc. increased its position in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after buying an additional 2,203,123 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $41.05 on Wednesday. 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 $32.76 and a fifty-two week high of $42.16. The stock has a market cap of $89.39 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. The stock has a fifty day moving average of $40.78 and a 200-day moving average of $38.09.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.99% and a net margin of 13.54%. During the same period in the prior year, the business posted $0.46 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.07 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.59%. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus price target of $55.00.

Enbridge 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.