Simmons Bank Sells 598 Shares of Enbridge Inc. (NYSE:ENB)

Simmons Bank reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,288 shares of the pipeline company’s stock after selling 598 shares during the quarter. Simmons Bank’s holdings in Enbridge were worth $865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the 1st quarter valued at $29,000. Grove Bank & Trust raised its holdings in shares of 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 buying an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in shares of 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 buying an additional 280 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Performance

NYSE:ENB opened at $42.51 on Thursday. The stock’s 50-day moving average is $41.01 and its 200-day moving average is $38.32. The stock 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 1-year low of $32.76 and a 1-year high of $43.00. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (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 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 period in the prior year, the company posted $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is currently 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.