Gladstone Institutional Advisory LLC Sells 40,045 Shares of Enbridge Inc. (NYSE:ENB)

Gladstone Institutional Advisory LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 82.8% during the third quarter, HoldingsChannel.com reports. The fund owned 8,344 shares of the pipeline company’s stock after selling 40,045 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Enbridge were worth $339,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. grew its stake in shares of 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 in the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge during the 1st quarter valued at approximately $1,133,000. International Assets Investment Management LLC raised its holdings in Enbridge by 734.1% during the 3rd quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock valued at $36,200,000 after buying an additional 784,535 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in Enbridge by 29.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock worth $6,810,000 after buying an additional 38,231 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.0 %

NYSE:ENB opened at $40.83 on Tuesday. The firm has a market capitalization of $88.92 billion, a P/E ratio of 18.90, a PEG ratio of 3.91 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $42.16. The company’s fifty day moving average price is $40.75 and its 200-day moving average price is $38.05. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business earned $0.51 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.07 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ENB. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report 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.