Enbridge Inc. (NYSE:ENB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,861 shares of the pipeline company’s stock after selling 1,200 shares during the quarter. Principal Financial Group Inc.’s holdings in Enbridge were worth $1,661,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ENB. Natixis Advisors LLC increased its holdings in Enbridge by 15.5% in the second quarter. Natixis Advisors LLC now owns 138,305 shares of the pipeline company’s stock valued at $4,922,000 after buying an additional 18,519 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Enbridge by 2.1% during the 2nd quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock valued at $3,687,000 after acquiring an additional 2,145 shares during the period. Candriam S.C.A. increased its stake in shares of Enbridge by 45.0% in the 2nd quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock valued at $409,000 after purchasing an additional 3,570 shares in the last quarter. Savant Capital LLC raised its holdings in Enbridge by 17.8% in the 2nd quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock worth $759,000 after purchasing an additional 3,218 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new position in Enbridge during the second quarter worth approximately $211,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.3 %

NYSE ENB opened at $43.09 on Friday. The business has a fifty day moving average price of $42.20 and a 200 day moving average price of $39.93. 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 company has a market cap of $93.86 billion, a P/E ratio of 19.95, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the business earned $0.46 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.22%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 124.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.00.

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.