Enbridge Inc. (NYSE:ENB) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 61.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 969,334 shares of the pipeline company’s stock after selling 1,576,391 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Enbridge were worth $39,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the first quarter worth $29,000. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in 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. Finally, MFA Wealth Advisors LLC boosted its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENB. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge Stock Down 0.5 %

Enbridge stock opened at $43.26 on Friday. The company has a 50-day simple moving average of $41.40 and a 200-day simple moving average of $38.67. The firm has a market capitalization of $94.22 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, equities analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.25%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is presently 121.76%.

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.