Integrated Advisors Network LLC Lowers Stock Holdings in Enbridge Inc. (NYSE:ENB)

Integrated Advisors Network LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,334 shares of the pipeline company’s stock after selling 717 shares during the period. Integrated Advisors Network LLC’s holdings in Enbridge were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. Principal Financial Group Inc. boosted its position in shares of Enbridge by 151.6% during the first quarter. Principal Financial Group Inc. now owns 43,461 shares of the pipeline company’s stock worth $1,572,000 after buying an additional 26,185 shares during the period. Norden Group LLC purchased a new position in shares of Enbridge during the first quarter worth $360,000. BNP Paribas Financial Markets boosted its position in shares of Enbridge by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after buying an additional 1,136 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Enbridge by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 792,584 shares of the pipeline company’s stock worth $28,676,000 after buying an additional 3,094 shares during the period. Finally, StoneX Group Inc. boosted its holdings in Enbridge by 2.9% in the first quarter. StoneX Group Inc. now owns 12,472 shares of the pipeline company’s stock valued at $451,000 after purchasing an additional 356 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.0 %

NYSE:ENB opened at $40.42 on Friday. The firm has a market cap of $88.02 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. The stock has a fifty day moving average price of $40.73 and a 200 day moving average price of $37.93. Enbridge Inc. has a 12-month low of $32.65 and a 12-month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 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 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 company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the firm earned $0.51 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. 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 yield of 6.69%. Enbridge’s dividend payout ratio (DPR) is currently 137.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company.

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.