National Wealth Management Group LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

National Wealth Management Group LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.0% in the 3rd quarter, Holdings Channel reports. The fund owned 11,243 shares of the pipeline company’s stock after selling 2,992 shares during the quarter. National Wealth Management Group LLC’s holdings in Enbridge were worth $457,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cibc World Market Inc. grew its position in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after buying an additional 827,540 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $42.90 on Thursday. The firm has a market cap of $93.44 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70. The business’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $38.79.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 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 prior year, the company posted $0.46 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Ratings Changes

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

Enbridge 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.