River Street Advisors LLC Sells 406 Shares of Enbridge Inc. (NYSE:ENB)

River Street Advisors LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 22,302 shares of the pipeline company’s stock after selling 406 shares during the period. River Street Advisors LLC’s holdings in Enbridge were worth $906,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new position in Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter worth approximately $29,000. Grove Bank & Trust boosted its stake in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC boosted its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.26 during mid-day trading on Friday, reaching $42.18. The company had a trading volume of 5,556,438 shares, compared to its average volume of 4,879,259. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.13 and a beta of 0.93. The company’s 50-day moving average price is $41.15 and its 200-day moving average price is $38.43. Enbridge Inc. has a one year low of $32.76 and a one year high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS 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 company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.41%. Enbridge’s payout ratio is presently 122.22%.

Analyst Ratings Changes

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

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.