Premier Fund Managers Ltd Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Premier Fund Managers Ltd decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the pipeline company’s stock after selling 5,000 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $6,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter worth about $29,000. Grove Bank & Trust increased 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 valued at $31,000 after purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENB. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge Trading Up 0.9 %

NYSE ENB opened at $42.95 on Wednesday. The firm has a market cap of $93.55 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.31. The stock has a 50-day moving average of $41.23 and a 200-day moving average of $38.56. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is presently 121.76%.

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.