Argyle Capital Management Inc. Has $3.18 Million Position in Enbridge Inc. (NYSE:ENB)

Argyle Capital Management Inc. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 78,208 shares of the pipeline company’s stock after selling 1,720 shares during the period. Enbridge accounts for 1.3% of Argyle Capital Management Inc.’s portfolio, making the stock its 29th largest position. Argyle Capital Management Inc.’s holdings in Enbridge were worth $3,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust grew its stake 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 period. MFA Wealth Advisors LLC boosted its holdings in 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 buying an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the 2nd quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the 1st quarter valued at approximately $29,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ENB shares. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday. They issued an “equal weight” rating for the company.

Enbridge Stock Down 1.1 %

Shares of ENB traded down $0.43 on Tuesday, hitting $40.44. The company’s stock had a trading volume of 532,780 shares, compared to its average volume of 4,880,654. The firm’s fifty day moving average price is $40.63 and its 200-day moving average price is $37.81. Enbridge Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $42.16. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $86.29 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

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.