Enbridge Inc. (NYSE:ENB) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,529 shares of the pipeline company’s stock after selling 957 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Enbridge were worth $874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Grove Bank & Trust raised its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Enbridge in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

NYSE:ENB opened at $42.51 on Thursday. The firm’s fifty day simple moving average is $41.01 and its 200-day simple moving average is $38.32. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market cap of $92.56 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.36%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is presently 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.