First Heartland Consultants Inc. Has $428,000 Holdings in Enbridge Inc. (NYSE:ENB)

First Heartland Consultants Inc. lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 69.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,529 shares of the pipeline company’s stock after selling 24,051 shares during the quarter. First Heartland Consultants Inc.’s holdings in Enbridge were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Aigen Investment Management LP acquired a new position in Enbridge during the third quarter worth $1,199,000. Platform Technology Partners acquired a new position in Enbridge during the third quarter worth $213,000. Entropy Technologies LP acquired a new position in Enbridge during the third quarter worth $624,000. Apollon Wealth Management LLC boosted its holdings in Enbridge by 13.3% during the third quarter. Apollon Wealth Management LLC now owns 56,893 shares of the pipeline company’s stock worth $2,311,000 after purchasing an additional 6,683 shares during the last quarter. Finally, Tacita Capital Inc boosted its holdings in Enbridge by 1.7% during the third quarter. Tacita Capital Inc now owns 66,028 shares of the pipeline company’s stock worth $2,686,000 after purchasing an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 1.4 %

Shares of Enbridge stock opened at $42.18 on Wednesday. The company has a market capitalization of $91.84 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.16 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.00. The firm’s 50-day moving average price is $40.98 and its two-hundred day moving average price is $38.28.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 company posted $0.46 earnings per share. On average, analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report 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.