Premier Fund Managers Ltd Sells 5,000 Shares of Enbridge Inc. (NYSE:ENB)

Premier Fund Managers Ltd cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 150,000 shares of the pipeline company’s stock after selling 5,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in Enbridge were worth $6,103,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ENB. 1832 Asset Management L.P. grew its holdings in shares of Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. boosted its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc grew its stake in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after purchasing an additional 644,526 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Enbridge Price Performance

ENB stock opened at $42.95 on Wednesday. The firm has a 50 day moving average of $41.23 and a 200-day moving average of $38.56. The firm has a market capitalization of $93.55 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.31. 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 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during 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 last year, the firm earned $0.46 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm 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 represents a $2.70 annualized dividend and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

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.