M. Kraus & Co Lowers Stake in Enbridge Inc. (NYSE:ENB)

M. Kraus & Co lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 140,886 shares of the pipeline company’s stock after selling 1,327 shares during the period. Enbridge accounts for 1.7% of M. Kraus & Co’s portfolio, making the stock its 27th largest position. M. Kraus & Co’s holdings in Enbridge were worth $5,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the 1st quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the 1st quarter worth $31,000. Finally, Grove Bank & Trust raised its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.1 %

Enbridge stock traded up $0.06 during trading hours on Monday, reaching $41.13. The stock had a trading volume of 603,720 shares, compared to its average volume of 5,001,494. The stock has a market cap of $87.77 billion, a PE ratio of 20.85, a PEG ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $41.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company has a fifty day simple moving average of $40.05 and a 200-day simple moving average of $37.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the firm earned $0.51 EPS. Analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.51%. Enbridge’s payout ratio is 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average price target of $51.50.

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.