Enbridge Inc. (NYSE:ENB) Shares Sold by Haverford Trust Co

Haverford Trust Co trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,916 shares of the pipeline company’s stock after selling 1,247 shares during the period. Haverford Trust Co’s holdings in Enbridge were worth $849,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge in the first quarter valued at $29,000. Grove Bank & Trust boosted its position 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 buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its holdings 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 buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Up 1.4 %

Enbridge stock opened at $43.10 on Friday. The company has a market capitalization of $93.86 billion, a P/E ratio of 19.95, a P/E/G ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $43.31. The firm’s fifty day simple moving average is $41.06 and its 200-day simple moving average is $38.35. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

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.