Enbridge Inc. (NYSE:ENB) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,674 shares of the pipeline company’s stock after selling 2,564 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enbridge were worth $10,789,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. TruNorth Capital Management LLC acquired a new stake in Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the 2nd quarter valued at approximately $28,000. Grove Bank & Trust raised its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Enbridge in the third quarter worth $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $43.38 on Tuesday. The stock has a 50-day simple moving average of $41.62 and a 200 day simple moving average of $38.89. The stock has a market capitalization of $94.48 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.26 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 company earned $0.46 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a $0.676 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Analysts Set New Price Targets

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

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.