Enbridge Inc. (NYSE:ENB) Stock Holdings Lessened by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 860 shares of the pipeline company’s stock after selling 373 shares during the period. ST Germain D J Co. Inc.’s holdings in Enbridge were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. First Citizens Bank & Trust Co. raised its holdings in shares of Enbridge by 46.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 8,687 shares of the pipeline company’s stock worth $353,000 after buying an additional 2,748 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Enbridge by 5.0% during the third quarter. Capital Investment Advisors LLC now owns 53,802 shares of the pipeline company’s stock valued at $2,185,000 after purchasing an additional 2,564 shares during the last quarter. Blue Trust Inc. raised its position in Enbridge by 39.9% in the 3rd quarter. Blue Trust Inc. now owns 13,736 shares of the pipeline company’s stock worth $558,000 after purchasing an additional 3,917 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in shares of Enbridge during the third quarter valued at $204,000. Finally, Aspiriant LLC bought a new stake in Enbridge during the 3rd quarter worth about $221,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.98 on Monday. The firm has a 50 day moving average price of $40.38 and a two-hundred day moving average price of $37.55. The company has a market capitalization of $89.58 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.03. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.37%. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.