D.A. Davidson & CO. Has $7.08 Million Holdings in Enbridge Inc. (NYSE:ENB)

D.A. Davidson & CO. trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% in the third quarter, HoldingsChannel reports. The firm owned 174,423 shares of the pipeline company’s stock after selling 13,706 shares during the period. D.A. Davidson & CO.’s holdings in Enbridge were worth $7,083,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of Enbridge by 2.1% in the first quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock worth $7,800,000 after acquiring an additional 4,400 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Enbridge by 8.0% in the first quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock worth $1,468,000 after acquiring an additional 3,008 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in shares of Enbridge by 17.4% in the first quarter. Jaffetilchin Investment Partners LLC now owns 7,081 shares of the pipeline company’s stock worth $256,000 after acquiring an additional 1,052 shares during the last quarter. LRI Investments LLC bought a new position in shares of Enbridge in the first quarter worth about $114,000. Finally, Atria Investments Inc raised its stake in shares of Enbridge by 2.4% in the first quarter. Atria Investments Inc now owns 108,960 shares of the pipeline company’s stock worth $3,942,000 after acquiring an additional 2,510 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Stock Up 0.5 %

NYSE:ENB opened at $42.90 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The stock’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $38.79. The firm has a market capitalization of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm 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 last year, the business earned $0.46 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.06 earnings per share 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 dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 121.76%.

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.