Enbridge Inc. (NYSE:ENB) Shares Sold by Partners Group Holding AG

Partners Group Holding AG trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 379,846 shares of the pipeline company’s stock after selling 77,525 shares during the quarter. Partners Group Holding AG’s holdings in Enbridge were worth $15,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Enbridge by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock worth $7,800,000 after buying an additional 4,400 shares during the period. Ancora Advisors LLC raised its holdings in shares of Enbridge by 3.5% during the first quarter. Ancora Advisors LLC now owns 65,479 shares of the pipeline company’s stock valued at $2,369,000 after acquiring an additional 2,241 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Enbridge by 6.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 88,752 shares of the pipeline company’s stock valued at $2,949,000 after acquiring an additional 5,347 shares in the last quarter. Creekmur Asset Management LLC boosted its stake in Enbridge by 4.1% in the 1st quarter. Creekmur Asset Management LLC now owns 29,671 shares of the pipeline company’s stock worth $1,073,000 after purchasing an additional 1,172 shares during the period. Finally, Tidal Investments LLC grew its position in Enbridge by 8.0% during the 1st quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock worth $1,468,000 after purchasing an additional 3,008 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.7 %

Enbridge stock opened at $42.97 on Tuesday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market cap of $93.58 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.21 and a beta of 0.93. The company’s fifty day simple moving average is $41.43 and its 200-day simple moving average is $38.73.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.