KCM Investment Advisors LLC Sells 1,002 Shares of Enbridge Inc. (NYSE:ENB)

KCM Investment Advisors LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,092 shares of the pipeline company’s stock after selling 1,002 shares during the period. KCM Investment Advisors LLC’s holdings in Enbridge were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. boosted its holdings in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares during the period. Stonegate Investment Group LLC grew its position in shares of Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after buying an additional 19,344 shares during the period. Finally, Ted Buchan & Co raised its holdings in shares of Enbridge by 43.5% during the third quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock valued at $1,985,000 after acquiring an additional 14,791 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

Shares of ENB stock opened at $42.18 on Friday. The company’s fifty day moving average price is $41.15 and its 200-day moving average price is $38.45. The stock has a market cap of $91.86 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. 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 Inc. has a 12 month low of $32.76 and a 12 month high of $43.31.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 6.41%. 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. Enbridge’s dividend payout ratio (DPR) is 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.