Caprock Group LLC Sells 1,714 Shares of Enbridge Inc. (NYSE:ENB)

Caprock Group LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,836 shares of the pipeline company’s stock after selling 1,714 shares during the quarter. Caprock Group LLC’s holdings in Enbridge were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its holdings in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. grew its holdings in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Trading Down 0.5 %

Shares of Enbridge stock opened at $42.79 on Thursday. The company’s fifty day simple moving average is $41.29 and its 200-day simple moving average is $38.59. The company has a market cap of $93.19 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.10 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. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company posted $0.46 earnings per share. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS 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 issued a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.