SG Americas Securities LLC decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,146 shares of the pipeline company’s stock after selling 4,447 shares during the period. SG Americas Securities LLC’s holdings in Enbridge were worth $2,196,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Haverford Trust Co. grew its holdings in shares of Enbridge by 3.8% in the third quarter. Haverford Trust Co. now owns 7,807 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 288 shares during the last quarter. Donaldson Capital Management LLC grew its holdings in shares of Enbridge by 1.2% in the third quarter. Donaldson Capital Management LLC now owns 685,145 shares of the pipeline company’s stock worth $24,035,000 after purchasing an additional 8,337 shares during the last quarter. Bartlett & Co. LLC grew its holdings in shares of Enbridge by 30.4% in the third quarter. Bartlett & Co. LLC now owns 1,339,038 shares of the pipeline company’s stock worth $46,973,000 after purchasing an additional 312,425 shares during the last quarter. Strategic Wealth Advisors Group LLC grew its holdings in shares of Enbridge by 2.7% in the third quarter. Strategic Wealth Advisors Group LLC now owns 44,509 shares of the pipeline company’s stock worth $1,564,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Enbridge by 6.3% in the third quarter. Parallel Advisors LLC now owns 5,717 shares of the pipeline company’s stock worth $201,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 54.18% of the company’s stock.
Shares of Enbridge stock traded up $0.16 during midday trading on Friday, hitting $37.88. The company had a trading volume of 32,097 shares, compared to its average volume of 3,418,713. The stock has a market cap of $76.34 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.88 and a beta of 0.58. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $36.15 and a 200 day simple moving average of $35.49. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $38.77.
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 given a dividend of $0.561 per share. The ex-dividend date is Thursday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.24 dividend on an annualized basis and a yield of 5.92%. Enbridge’s dividend payout ratio (DPR) is currently 107.80%.
ENB has been the topic of several recent research reports. Citigroup increased their target price on shares of Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Barclays cut shares of Enbridge from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $52.00 to $51.00 in a report on Tuesday, October 15th. CIBC dropped their target price on shares of Enbridge from $57.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Enbridge in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.
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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