Romano Brothers AND Company Lowers Stake in Enbridge Inc. (NYSE:ENB)

Romano Brothers AND Company decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 86,429 shares of the pipeline company’s stock after selling 500 shares during the quarter. Romano Brothers AND Company’s holdings in Enbridge were worth $3,510,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge during the 1st quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge in the first quarter valued at about $31,000. Finally, Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $41.22 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The company has a market cap of $87.96 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The business has a fifty day moving average of $40.50 and a two-hundred day moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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 firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Wall Street Analysts Forecast Growth

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

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.