Enbridge Inc. (NYSE:ENB) Shares Sold by Principal Securities Inc.

Principal Securities Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,523 shares of the pipeline company’s stock after selling 5,266 shares during the period. Principal Securities Inc.’s holdings in Enbridge were worth $3,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ENB. Principal Financial Group Inc. lifted its stake in shares of Enbridge by 151.6% during the first quarter. Principal Financial Group Inc. now owns 43,461 shares of the pipeline company’s stock worth $1,572,000 after buying an additional 26,185 shares during the period. Norden Group LLC acquired a new stake in shares of Enbridge during the first quarter worth $360,000. BNP Paribas Financial Markets lifted its stake in shares of Enbridge by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after buying an additional 1,136 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Enbridge by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 792,584 shares of the pipeline company’s stock worth $28,676,000 after buying an additional 3,094 shares during the period. Finally, StoneX Group Inc. lifted its stake in shares of Enbridge by 2.9% during the first quarter. StoneX Group Inc. now owns 12,472 shares of the pipeline company’s stock worth $451,000 after buying an additional 356 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.0 %

NYSE ENB opened at $40.42 on Friday. The company has a market capitalization of $88.02 billion, a PE ratio of 21.05, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a fifty day moving average of $40.73 and a 200 day moving average of $37.93. Enbridge Inc. has a 1 year low of $32.65 and a 1 year high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.07 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed 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 is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.69%. Enbridge’s payout ratio is presently 137.50%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company.

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.