Huntington National Bank Reduces Stake in Enbridge Inc. (NYSE:ENB)

Huntington National Bank cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,467 shares of the pipeline company’s stock after selling 399 shares during the period. Huntington National Bank’s holdings in Enbridge were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ENB. Grove Bank & Trust lifted its position in 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 last quarter. MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the 1st quarter worth about $29,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $42.18 on Friday. The company has a market capitalization of $91.86 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.13 and a beta of 0.93. The company’s 50-day simple moving average is $41.11 and its two-hundred day simple moving average is $38.39. Enbridge Inc. has a one year low of $32.76 and a one year high of $43.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for 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 prior year, the firm earned $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 122.22%.

Analyst Ratings Changes

A number of research firms have recently commented on ENB. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Company 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.