HF Advisory Group LLC Sells 731 Shares of Enbridge Inc. (NYSE:ENB)

HF Advisory Group LLC reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,309 shares of the pipeline company’s stock after selling 731 shares during the period. HF Advisory Group LLC’s holdings in Enbridge were worth $1,231,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter worth about $29,000. Richardson Financial Services Inc. acquired a new position in shares of Enbridge in the first quarter valued at approximately $31,000. Finally, Grove Bank & Trust grew its holdings in Enbridge by 56.7% in 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. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $41.05 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $42.16. The stock has a market capitalization of $89.39 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. The stock has a fifty day moving average of $40.78 and a 200-day moving average of $38.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company 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 9.99%. During the same period last year, the company posted $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.59%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

Analysts Set New Price Targets

ENB has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

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.