Ingalls & Snyder LLC Has $4.25 Million Holdings in Enbridge Inc. (NYSE:ENB)

Ingalls & Snyder LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,744 shares of the pipeline company’s stock after selling 6,866 shares during the quarter. Ingalls & Snyder LLC’s holdings in Enbridge were worth $4,254,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. raised its stake in shares of Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 246 shares in the last quarter. Associated Banc Corp raised its holdings in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 248 shares during the period. Centaurus Financial Inc. lifted its position in Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after acquiring an additional 256 shares during the last quarter. First PREMIER Bank boosted its holdings in Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares during the period. Finally, Keudell Morrison Wealth Management grew its position in shares of Enbridge by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after purchasing an additional 277 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.26 during trading on Tuesday, hitting $43.62. 625,439 shares of the stock were exchanged, compared to its average volume of 4,849,104. The company has a market capitalization of $95.01 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.87. The company’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $38.89.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) 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 analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm posted $0.46 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.04 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were paid a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 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.