DORCHESTER WEALTH MANAGEMENT Co Reduces Stake in Enbridge Inc. (NYSE:ENB)

DORCHESTER WEALTH MANAGEMENT Co cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,738 shares of the pipeline company’s stock after selling 2,825 shares during the quarter. Enbridge makes up approximately 2.4% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 7th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Enbridge were worth $13,754,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares in the last quarter. TD Asset Management Inc grew its stake in Enbridge by 0.9% during the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after buying an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. grew its stake in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB traded up $0.11 during mid-day trading on Thursday, reaching $41.33. The company had a trading volume of 363,149 shares, compared to its average volume of 4,909,895. The company’s 50 day simple moving average is $40.50 and its 200 day simple moving average is $37.66. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $88.19 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the company posted $0.51 EPS. Analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.47%. Enbridge’s payout ratio is currently 134.01%.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

About Enbridge

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.