Massachusetts Financial Services Co. MA Cuts Stake in Enbridge Inc. (NYSE:ENB)

Massachusetts Financial Services Co. MA cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,853,244 shares of the pipeline company’s stock after selling 57,042 shares during the period. Massachusetts Financial Services Co. MA owned 0.18% of Enbridge worth $156,480,000 as of its most recent SEC filing.

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

Enbridge Stock Down 0.5 %

Shares of ENB opened at $43.26 on Friday. 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 business has a fifty day moving average of $41.40 and a 200 day moving average of $38.68. The company has a market cap of $94.22 billion, a PE ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during 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 business earned $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced 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. 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 dividend yield of 6.25%. Enbridge’s dividend payout ratio is currently 121.76%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENB. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued 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.