Adell Harriman & Carpenter Inc. Sells 990 Shares of Enbridge Inc. (NYSE:ENB)

Adell Harriman & Carpenter Inc. trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,901 shares of the pipeline company’s stock after selling 990 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $4,382,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% in the third 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 last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the third 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 in the last quarter. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter worth approximately $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the first quarter worth $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Price Performance

Shares of ENB stock opened at $40.42 on Wednesday. The stock’s 50-day moving average is $40.66 and its 200 day moving average is $37.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 1-year low of $31.47 and a 1-year high of $42.16. The company has a market cap of $86.24 billion, a P/E ratio of 20.52, a PEG ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 during 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 quarter last year, the company posted $0.51 earnings per share. Research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

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.