Enbridge Inc. (NYSE:ENB) Shares Sold by CacheTech Inc.

CacheTech Inc. cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,281 shares of the pipeline company’s stock after selling 1,341 shares during the period. CacheTech Inc.’s holdings in Enbridge were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. lifted its holdings in shares of Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after buying an additional 246 shares during the period. First PREMIER Bank lifted its holdings in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares during the period. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the third 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 period. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Rockwood Wealth Management LLC grew its stake in shares of Enbridge by 2.6% during the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.0 %

Shares of ENB opened at $40.42 on Friday. The firm has a market cap of $88.02 billion, a P/E ratio of 21.05, a PEG ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.65 and a 12 month high of $42.16. The stock’s 50 day moving average is $40.73 and its two-hundred day moving average is $37.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change 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 annualized dividend and a dividend yield of 6.69%. Enbridge’s dividend payout ratio (DPR) is 137.50%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating 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.

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.