CAP Partners LLC Has $429,000 Position in Enbridge Inc. (NYSE:ENB)

CAP Partners LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the third quarter, Holdings Channel reports. The institutional investor owned 10,557 shares of the pipeline company’s stock after selling 303 shares during the period. CAP Partners LLC’s holdings in Enbridge were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Swiss National Bank lifted its position in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Enbridge by 66.5% in the third 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 last quarter. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after purchasing an additional 19,344 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Trading Down 0.1 %

Shares of NYSE:ENB opened at $42.13 on Monday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $91.75 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. The company has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $38.47.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during 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 last year, the firm posted $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 6.42%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is 122.22%.

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.