Enbridge Inc. (NYSE:ENB) Shares Sold by KPP Advisory Services LLC

KPP Advisory Services LLC trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,728 shares of the pipeline company’s stock after selling 723 shares during the quarter. KPP Advisory Services LLC’s holdings in Enbridge were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its holdings in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Enbridge by 66.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. National Bank of Canada FI raised its position in shares of Enbridge by 11.3% during the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after purchasing an additional 2,203,123 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

Shares of ENB stock opened at $42.18 on Friday. The stock’s fifty day simple moving average is $41.15 and its 200-day simple moving average is $38.45. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.10 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business posted $0.46 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.41%. 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 is currently 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.