Enbridge Inc. (NYSE:ENB) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 55.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,987 shares of the pipeline company’s stock after selling 7,599 shares during the period. D.B. Root & Company LLC’s holdings in Enbridge were worth $243,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the second quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the first quarter valued at $29,000. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $42.41 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. Enbridge Inc. has a one year low of $32.76 and a one year high of $42.61. The company has a 50-day simple moving average of $40.82 and a 200-day simple moving average of $38.12. The stock has a market capitalization of $92.36 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 3.97 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business earned $0.46 EPS. On average, analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.38%. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

Analysts Set New Price Targets

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

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.