Enbridge Inc. (NYSE:ENB) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,100 shares of the pipeline company’s stock after selling 3,533 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Enbridge were worth $7,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased 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 valued at $253,000 after acquiring an additional 1,136 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge during the first quarter valued at approximately $1,133,000. Orion Portfolio Solutions LLC increased its stake in shares of Enbridge by 8.6% during the first quarter. Orion Portfolio Solutions LLC now owns 45,578 shares of the pipeline company’s stock valued at $1,649,000 after acquiring an additional 3,610 shares during the period. Vanguard Group Inc. increased its stake in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Finally, TIAA Trust National Association grew its position in Enbridge by 9.4% in the first quarter. TIAA Trust National Association now owns 20,968 shares of the pipeline company’s stock worth $759,000 after buying an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Trading Down 2.1 %

Enbridge stock opened at $42.18 on Monday. 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 has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $43.31. The firm’s 50 day moving average price is $41.15 and its two-hundred day moving average price is $38.47.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business posted $0.46 EPS. On average, research analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 122.22%.

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.