Enbridge Inc. (NYSE:ENB) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,524 shares of the pipeline company’s stock after selling 4,223 shares during the quarter. Gold Investment Management Ltd.’s holdings in Enbridge were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the first quarter valued at about $29,000. Grove Bank & Trust lifted its position in Enbridge by 56.7% in 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 lifted its position in Enbridge by 55.6% in 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. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Down 0.2 %

Shares of ENB opened at $42.35 on Friday. The stock has a market capitalization of $92.23 billion, a PE ratio of 19.65, a P/E/G ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $42.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62. The company’s 50-day simple moving average is $40.82 and its 200-day simple moving average is $38.12.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations 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 company earned $0.46 earnings per share. Analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.38%. 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 currently 122.22%.

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.