Donaldson Capital Management LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

Donaldson Capital Management LLC lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,894 shares of the pipeline company’s stock after selling 636 shares during the quarter. Donaldson Capital Management LLC’s holdings in Enbridge were worth $1,173,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 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 worth $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $40.83 on Tuesday. Enbridge Inc. has a one year low of $32.76 and a one year high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company’s fifty day moving average is $40.75 and its two-hundred day moving average is $38.05. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the company earned $0.51 EPS. Analysts forecast that Enbridge Inc. will post 2.07 EPS for the current fiscal year.

Enbridge Increases Dividend

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

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.