Regent Investment Management LLC Sells 3,046 Shares of Enbridge Inc (NYSE:ENB)

Regent Investment Management LLC lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,701 shares of the pipeline company’s stock after selling 3,046 shares during the period. Regent Investment Management LLC’s holdings in Enbridge were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Asset Dedication LLC lifted its stake in shares of Enbridge by 22.2% in the 3rd quarter. Asset Dedication LLC now owns 1,623 shares of the pipeline company’s stock valued at $56,000 after acquiring an additional 295 shares during the last quarter. Lcnb Corp lifted its stake in shares of Enbridge by 1.0% in the 2nd quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock valued at $1,083,000 after acquiring an additional 308 shares during the last quarter. Security National Trust Co. lifted its stake in shares of Enbridge by 18.7% in the 2nd quarter. Security National Trust Co. now owns 2,102 shares of the pipeline company’s stock valued at $76,000 after acquiring an additional 331 shares during the last quarter. Kempen Capital Management N.V. lifted its stake in shares of Enbridge by 30.9% in the 2nd quarter. Kempen Capital Management N.V. now owns 1,450 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 342 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Enbridge by 14.2% in the 2nd quarter. CWM LLC now owns 2,868 shares of the pipeline company’s stock valued at $103,000 after acquiring an additional 356 shares during the last quarter. 53.82% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on ENB shares. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Tuesday, July 2nd. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays lowered Enbridge from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $52.00 to $51.00 in a research note on Tuesday. Finally, Goldman Sachs Group started coverage on Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Hold” and a consensus price target of $44.96.

NYSE:ENB traded up $0.44 during mid-day trading on Friday, reaching $36.18. 4,432,907 shares of the company’s stock traded hands, compared to its average volume of 3,136,764. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $38.04. The firm has a market capitalization of $72.84 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.78 and a beta of 0.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The company has a 50 day moving average price of $34.89 and a 200-day moving average price of $35.52.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The company had revenue of $9.92 billion for the quarter. As a group, analysts forecast that Enbridge Inc will post 2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.251 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. Enbridge’s dividend payout ratio is presently 107.80%.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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