Enbridge Inc. (NYSE:ENB) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,968 shares of the pipeline company’s stock after selling 2,947 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Enbridge were worth $486,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Enbridge by 44.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock worth $156,098,000 after buying an additional 1,183,821 shares in the last quarter. White Knight Strategic Wealth Advisors LLC raised its position in shares of Enbridge by 3.6% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 25,605 shares of the pipeline company’s stock worth $1,040,000 after buying an additional 900 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Enbridge by 13.5% in the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock worth $310,000 after acquiring an additional 910 shares during the period. Finally, Auxier Asset Management acquired a new stake in shares of Enbridge in the 3rd quarter worth approximately $204,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

ENB stock opened at $43.38 on Monday. The firm has a market cap of $94.48 billion, a PE ratio of 20.08, a P/E/G ratio of 4.26 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $41.62 and a 200 day simple moving average of $38.89.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a $0.676 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.