Enbridge Inc. (NYSE:ENB) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 61.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 969,334 shares of the pipeline company’s stock after selling 1,576,391 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Enbridge were worth $39,421,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Icon Wealth Advisors LLC boosted its position in shares of Enbridge by 227.8% in the third quarter. Icon Wealth Advisors LLC now owns 42,613 shares of the pipeline company’s stock worth $1,731,000 after acquiring an additional 29,613 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Enbridge by 7.4% in the third quarter. Raymond James Trust N.A. now owns 67,006 shares of the pipeline company’s stock worth $2,721,000 after acquiring an additional 4,593 shares during the last quarter. AlphaCore Capital LLC boosted its position in shares of Enbridge by 11.7% in the third quarter. AlphaCore Capital LLC now owns 47,150 shares of the pipeline company’s stock worth $1,915,000 after acquiring an additional 4,927 shares during the last quarter. Concorde Asset Management LLC raised its holdings in Enbridge by 4.6% in the third quarter. Concorde Asset Management LLC now owns 6,827 shares of the pipeline company’s stock valued at $277,000 after buying an additional 300 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Enbridge by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,845,232 shares of the pipeline company’s stock valued at $237,698,000 after buying an additional 242,424 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.5 %

ENB opened at $43.26 on Friday. The firm has a market capitalization of $94.22 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93. The firm’s 50 day moving average is $41.40 and its 200-day moving average is $38.67. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $0.46 earnings per share. Analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Analysts Set New Price Targets

Several research analysts recently commented on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a 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.