Partners Group Holding AG Sells 77,525 Shares of Enbridge Inc. (NYSE:ENB)

Partners Group Holding AG decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.0% during the third quarter, HoldingsChannel.com reports. The fund owned 379,846 shares of the pipeline company’s stock after selling 77,525 shares during the period. Partners Group Holding AG’s holdings in Enbridge were worth $15,330,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Grove Bank & Trust grew its holdings in 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 purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings 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 period. TruNorth Capital Management LLC acquired a new position in Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter worth $28,000. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the 3rd quarter worth $35,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

NYSE:ENB opened at $42.97 on Tuesday. 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 firm’s 50-day moving average is $41.43 and its 200-day moving average is $38.73. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. The company has a market cap of $93.58 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 4.21 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the firm 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 firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.29%. 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 dividend payout ratio (DPR) is presently 121.76%.

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.