Concurrent Investment Advisors LLC Trims Stake in Enbridge Inc. (NYSE:ENB)

Concurrent Investment Advisors LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,254 shares of the pipeline company’s stock after selling 1,211 shares during the period. Concurrent Investment Advisors LLC’s holdings in Enbridge were worth $2,000,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the period. Stonegate Investment Group LLC boosted its holdings in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares during the period. State Board of Administration of Florida Retirement System bought a new position in Enbridge in the 1st quarter valued at $1,133,000. International Assets Investment Management LLC increased its stake in Enbridge by 734.1% in the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock worth $36,200,000 after purchasing an additional 784,535 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Enbridge by 29.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock worth $6,810,000 after purchasing an additional 38,231 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 2.1 %

NYSE:ENB opened at $42.41 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $42.61. The company has a 50-day moving average of $40.82 and a 200 day moving average of $38.12. The firm has a market cap of $92.36 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93.

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, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced 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. This represents a $2.70 annualized dividend and a yield of 6.38%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 122.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.