Glenmede Trust Co. NA Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Glenmede Trust Co. NA trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,542 shares of the pipeline company’s stock after selling 1,623 shares during the period. Glenmede Trust Co. NA’s holdings in Enbridge were worth $2,134,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ENB. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.1 %

Shares of ENB opened at $43.38 on Monday. The business’s 50 day moving average is $41.62 and its 200 day moving average is $38.89. The company has a market capitalization of $94.48 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.26 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 EPS. Research analysts expect that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were paid a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. Enbridge’s payout ratio is presently 121.76%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge 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.