Enbridge Inc. (NYSE:ENB) Shares Sold by JNBA Financial Advisors

JNBA Financial Advisors trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,634 shares of the pipeline company’s stock after selling 1,349 shares during the period. JNBA Financial Advisors’ holdings in Enbridge were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Richardson Financial Services Inc. grew its position in shares of Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 246 shares in the last quarter. First PREMIER Bank boosted its holdings in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 257 shares during the period. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in 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 period. MFA Wealth Advisors LLC increased its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Rockwood Wealth Management LLC raised its holdings in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares during the period. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Enbridge Stock Performance

Shares of ENB opened at $41.54 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $42.16. The firm has a fifty day moving average of $40.82 and a 200-day moving average of $38.12. The company has a market cap of $90.45 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current 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 given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 122.22%.

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.