Enbridge Inc. (NYSE:ENB) Shares Sold by Park Place Capital Corp

Park Place Capital Corp trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,433 shares of the pipeline company’s stock after selling 2,942 shares during the period. Park Place Capital Corp’s holdings in Enbridge were worth $586,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after buying an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Enbridge in the 1st quarter worth about $1,133,000. Vanguard Group Inc. boosted its stake in Enbridge by 1.5% in the 1st 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 during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in Enbridge in the 4th quarter worth about $26,358,000. Finally, Intech Investment Management LLC acquired a new stake in Enbridge in the 1st quarter worth about $4,069,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.50.

Enbridge Trading Down 0.9 %

Shares of NYSE ENB traded down $0.36 during midday trading on Tuesday, hitting $40.46. The stock had a trading volume of 937,729 shares, compared to its average volume of 5,055,854. The company has a market capitalization of $86.34 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $41.35. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a fifty day moving average price of $39.78 and a 200 day moving average price of $37.21.

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 the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 EPS. On average, analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

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.