First Heartland Consultants Inc. Sells 24,051 Shares of Enbridge Inc. (NYSE:ENB)

First Heartland Consultants Inc. lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 69.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,529 shares of the pipeline company’s stock after selling 24,051 shares during the quarter. First Heartland Consultants Inc.’s holdings in Enbridge were worth $428,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its holdings in shares of Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares during the period. M&G Plc bought a new position in shares of Enbridge during the 1st quarter worth about $152,843,000. Cibc World Market Inc. increased its holdings in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.4 %

ENB opened at $42.18 on Wednesday. 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 company has a market cap of $91.84 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.16 and a beta of 0.93. The firm has a 50 day simple moving average of $40.98 and a 200 day simple moving average of $38.28. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is 122.22%.

Wall Street Analysts Forecast Growth

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

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.