Enbridge Inc. (NYSE:ENB) Stock Holdings Trimmed by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,751 shares of the pipeline company’s stock after selling 400 shares during the quarter. Enbridge comprises 2.8% of MADDEN SECURITIES Corp’s holdings, making the stock its 10th largest position. MADDEN SECURITIES Corp’s holdings in Enbridge were worth $6,406,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge in the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter worth $31,000. Finally, PFS Partners LLC raised its holdings in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.5 %

Enbridge stock opened at $41.09 on Friday. The firm has a market cap of $87.68 billion, a PE ratio of 20.86, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $41.35. The stock’s 50 day simple moving average is $40.05 and its two-hundred day simple moving average is $37.33. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.51%. Enbridge’s dividend payout ratio is currently 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.