Mutual Advisors LLC Has $1.70 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Mutual Advisors LLC cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,351 shares of the pipeline company’s stock after selling 4,252 shares during the period. Mutual Advisors LLC’s holdings in Enbridge were worth $1,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in shares of 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 buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter worth $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Price Performance

Shares of ENB opened at $40.40 on Friday. Enbridge Inc. has a 12-month low of $31.68 and a 12-month high of $42.16. The business has a 50-day simple moving average of $40.72 and a two-hundred day simple moving average of $37.89. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $87.97 billion, a PE ratio of 21.04, a PEG ratio of 4.00 and a beta of 0.93.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 140.63%.

Enbridge Company 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.