Verus Capital Partners LLC Cuts Stake in Enbridge Inc. (NYSE:ENB)

Verus Capital Partners LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,208 shares of the pipeline company’s stock after selling 1,118 shares during the quarter. Verus Capital Partners LLC’s holdings in Enbridge were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENB. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $29,000. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research analyst reports. 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 research report on Monday, September 30th. Finally, Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Up 0.8 %

Shares of Enbridge stock opened at $42.51 on Thursday. The firm has a 50-day simple moving average of $41.01 and a two-hundred day simple moving average of $38.32. The company has a market cap of $92.56 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 quarter in the prior year, the firm posted $0.46 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 122.22%.

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.