Gold Investment Management Ltd. Cuts Position in Enbridge Inc. (NYSE:ENB)

Gold Investment Management Ltd. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 67,524 shares of the pipeline company’s stock after selling 4,223 shares during the quarter. Gold Investment Management Ltd.’s holdings in Enbridge were worth $2,744,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its stake in shares of Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after buying an additional 246 shares during the period. First PREMIER Bank increased its stake in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after buying an additional 257 shares during the period. Keudell Morrison Wealth Management increased its stake in shares of Enbridge by 1.4% during the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock worth $822,000 after buying an additional 277 shares during the period. Grove Bank & Trust increased 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 worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC increased its stake in shares of 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 buying an additional 280 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday.

Enbridge Stock Performance

Shares of Enbridge stock opened at $42.35 on Friday. The firm has a market capitalization of $92.23 billion, a P/E ratio of 19.65, a P/E/G ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $42.61. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm’s 50 day moving average is $40.82 and its two-hundred day moving average is $38.12.

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

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 6.38%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 122.22%.

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.