GLOBALT Investments LLC GA Sells 3,533 Shares of Enbridge Inc. (NYSE:ENB)

GLOBALT Investments LLC GA lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,100 shares of the pipeline company’s stock after selling 3,533 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Enbridge were worth $7,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. BNP Paribas Financial Markets raised its holdings in shares of Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 1,136 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Enbridge in the 1st quarter worth $1,133,000. Orion Portfolio Solutions LLC raised its holdings in Enbridge by 8.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 45,578 shares of the pipeline company’s stock worth $1,649,000 after acquiring an additional 3,610 shares during the period. Vanguard Group Inc. raised its holdings in Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Finally, TIAA Trust National Association raised its holdings in Enbridge by 9.4% in the 1st quarter. TIAA Trust National Association now owns 20,968 shares of the pipeline company’s stock worth $759,000 after acquiring an additional 1,798 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of several research reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Down 2.1 %

Shares of NYSE:ENB opened at $42.18 on Monday. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $91.86 billion, a PE ratio of 19.53, a PEG ratio of 4.10 and a beta of 0.93. The company has a 50 day moving average price of $41.15 and a two-hundred day moving average price of $38.47.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm 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 earned $0.46 earnings per share. Analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

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

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.