ERTS Wealth Advisors LLC Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

ERTS Wealth Advisors LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,702 shares of the pipeline company’s stock after selling 1,565 shares during the period. ERTS Wealth Advisors LLC’s holdings in Enbridge were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ENB. Grove Bank & Trust increased its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge during the first quarter worth about $29,000. Finally, Richardson Financial Services Inc. bought a new stake in Enbridge in the 1st quarter worth approximately $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.3 %

ENB stock traded down $0.12 during midday trading on Friday, hitting $41.72. The company had a trading volume of 198,045 shares, compared to its average volume of 4,953,565. 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 Inc. has a 52 week low of $31.31 and a 52 week high of $42.03. The stock’s 50 day moving average price is $40.31 and its 200 day moving average price is $37.48. The stock has a market cap of $89.03 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 3.94 and a beta of 0.93.

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, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average 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.