Atria Investments Inc Lowers Stake in Enbridge Inc. (NYSE:ENB)

Atria Investments Inc lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 26.7% in the 3rd quarter, Holdings Channel reports. The firm owned 82,204 shares of the pipeline company’s stock after selling 29,873 shares during the period. Atria Investments Inc’s holdings in Enbridge were worth $3,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Lindbrook Capital LLC lifted its stake in Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after acquiring an additional 19,344 shares in the last quarter. Wealth Quarterback LLC lifted its position in shares of Enbridge by 9.9% during the third quarter. Wealth Quarterback LLC now owns 7,156 shares of the pipeline company’s stock worth $291,000 after purchasing an additional 647 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Enbridge by 30.5% in the third quarter. Assetmark Inc. now owns 54,542 shares of the pipeline company’s stock valued at $2,215,000 after purchasing an additional 12,743 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Enbridge by 0.8% in the third quarter. Verdence Capital Advisors LLC now owns 43,660 shares of the pipeline company’s stock valued at $1,773,000 after purchasing an additional 362 shares in the last quarter. Finally, Holistic Planning LLC increased its stake in Enbridge by 81.7% during the 3rd quarter. Holistic Planning LLC now owns 12,598 shares of the pipeline company’s stock worth $512,000 after buying an additional 5,665 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8 %

NYSE ENB opened at $42.51 on Thursday. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.00. The firm has a 50 day moving average of $41.01 and a two-hundred day moving average of $38.32. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $92.56 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm 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 dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 122.22%.

Analysts Set New Price Targets

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

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.