Border to Coast Pensions Partnership Ltd Has $40.55 Million Holdings in Enbridge Inc. (NYSE:ENB)

Border to Coast Pensions Partnership Ltd cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,000,000 shares of the pipeline company’s stock after selling 50,000 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Enbridge were worth $40,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new position in shares of Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $31,000. Finally, Grove Bank & Trust boosted its holdings in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Stock Down 1.1 %

Shares of NYSE:ENB traded down $0.48 during trading on Monday, hitting $41.50. 1,700,174 shares of the company were exchanged, compared to its average volume of 4,948,002. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.16. The stock has a market cap of $88.56 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.94 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average price of $40.38 and a two-hundred day moving average price of $37.55.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.45%. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

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.