Enbridge Inc. (NYSE:ENB) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 108,868 shares of the pipeline company’s stock after selling 10,310 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Enbridge were worth $4,424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its position in shares of Enbridge by 18.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,021 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 1,561 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Enbridge by 61.5% in the 1st quarter. Park Avenue Securities LLC now owns 42,922 shares of the pipeline company’s stock valued at $1,553,000 after purchasing an additional 16,343 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Enbridge by 8.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,749 shares of the pipeline company’s stock valued at $497,000 after buying an additional 1,054 shares during the last quarter. &PARTNERS acquired a new stake in shares of Enbridge during the first quarter worth approximately $600,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Enbridge by 157.7% in the first quarter. Salem Investment Counselors Inc. now owns 50,906 shares of the pipeline company’s stock worth $1,842,000 after buying an additional 31,152 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Up 0.3 %

Shares of NYSE ENB opened at $41.98 on Friday. 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 stock’s 50 day moving average price is $40.38 and its two-hundred day moving average price is $37.54. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.03. The stock has a market capitalization of $89.58 billion, a P/E ratio of 21.31, a PEG ratio of 3.94 and a beta of 0.93.

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

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.37%. Enbridge’s dividend payout ratio is currently 134.01%.

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.