HM Payson & Co. Sells 1,913 Shares of Enbridge Inc. (NYSE:ENB)

HM Payson & Co. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,337 shares of the pipeline company’s stock after selling 1,913 shares during the period. HM Payson & Co.’s holdings in Enbridge were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ENB. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge in the 1st quarter worth approximately $31,000. Finally, Grove Bank & Trust boosted its stake in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Up 0.0 %

NYSE:ENB opened at $40.42 on Friday. The stock has a market capitalization of $88.02 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.65 and a 52 week high of $42.16. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $40.73 and a 200 day moving average of $37.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.69%. Enbridge’s dividend payout ratio (DPR) is 137.50%.

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.