Enbridge Inc. (NYSE:ENB) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 722,503 shares of the pipeline company’s stock after selling 5,723 shares during the quarter. Financial Counselors Inc.’s holdings in Enbridge were worth $29,341,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the second quarter worth $28,000. Grove Bank & Trust boosted its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.5 %

NYSE:ENB opened at $42.90 on Thursday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The firm has a market cap of $93.44 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average price of $41.52 and a 200 day moving average price of $38.79.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company posted $0.46 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.