Harbor Advisory Corp MA Has $1.49 Million Stake in Enbridge Inc. (NYSE:ENB)

Harbor Advisory Corp MA decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,626 shares of the pipeline company’s stock after selling 5,223 shares during the period. Harbor Advisory Corp MA’s holdings in Enbridge were worth $1,490,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Home Federal Bank of Tennessee boosted its holdings in Enbridge by 1.6% during the third quarter. Home Federal Bank of Tennessee now owns 53,822 shares of the pipeline company’s stock worth $2,186,000 after purchasing an additional 850 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in Enbridge by 14.3% during the third quarter. Foundations Investment Advisors LLC now owns 47,691 shares of the pipeline company’s stock worth $1,937,000 after purchasing an additional 5,979 shares during the last quarter. Bayshore Asset Management LLC bought a new stake in Enbridge during the third quarter worth $217,000. Marino Stram & Associates LLC raised its position in Enbridge by 1.7% during the third quarter. Marino Stram & Associates LLC now owns 21,671 shares of the pipeline company’s stock worth $880,000 after acquiring an additional 352 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Enbridge by 5.9% during the third quarter. Brown Lisle Cummings Inc. now owns 29,985 shares of the pipeline company’s stock worth $1,218,000 after acquiring an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

Shares of ENB traded down $0.11 during trading hours on Tuesday, hitting $41.43. The company had a trading volume of 475,963 shares, compared to its average volume of 4,932,263. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.16. The firm has a market cap of $88.41 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.94 and a beta of 0.93. The business has a fifty day moving average of $40.43 and a 200-day moving average of $37.59. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

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.