Wrapmanager Inc. Sells 3,246 Shares of Enbridge Inc. (NYSE:ENB)

Wrapmanager Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,808 shares of the pipeline company’s stock after selling 3,246 shares during the period. Wrapmanager Inc.’s holdings in Enbridge were worth $561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss National Bank boosted its stake in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% in 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 in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after buying an additional 19,344 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of Enbridge stock opened at $42.57 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market cap of $92.71 billion, a PE ratio of 19.71, a P/E/G ratio of 4.10 and a beta of 0.93. The business has a 50 day moving average of $41.18 and a 200 day moving average of $38.51. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.46 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.35%. Enbridge’s dividend payout ratio is 121.76%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company.

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.