River Street Advisors LLC Lowers Position in Enbridge Inc. (NYSE:ENB)

River Street Advisors LLC lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,302 shares of the pipeline company’s stock after selling 406 shares during the quarter. River Street Advisors LLC’s holdings in Enbridge were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge during the 1st quarter worth approximately $29,000. Grove Bank & Trust grew its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.6 %

Shares of NYSE ENB traded down $0.26 during mid-day trading on Friday, hitting $42.18. 5,556,438 shares of the stock traded hands, compared to its average volume of 4,879,259. 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 52 week low of $32.76 and a 52 week high of $43.31. The company has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.13 and a beta of 0.93. The stock has a fifty day moving average price of $41.15 and a 200-day moving average price of $38.43.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the company posted $0.46 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

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

Analysts Set New Price Targets

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

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.