Enbridge Inc. (NYSE:ENB) Shares Sold by MAI Capital Management

MAI Capital Management reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,747 shares of the pipeline company’s stock after selling 2,569 shares during the period. MAI Capital Management’s holdings in Enbridge were worth $599,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kayne Anderson Capital Advisors LP increased its position in shares of Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in Enbridge by 28.0% in the 3rd quarter. TrinityPoint Wealth LLC now owns 14,188 shares of the pipeline company’s stock valued at $576,000 after purchasing an additional 3,107 shares in the last quarter. Swiss National Bank raised its position in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after purchasing an additional 8,848 shares in the last quarter. Finally, Tower Bridge Advisors boosted its position in shares of Enbridge by 1.2% in the third quarter. Tower Bridge Advisors now owns 68,979 shares of the pipeline company’s stock worth $2,801,000 after buying an additional 788 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $43.26 on Friday. The business has a 50 day moving average price of $41.40 and a two-hundred day moving average price of $38.67. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. The firm has a market cap of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.25%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENB. 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 lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report 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.