National Wealth Management Group LLC Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

National Wealth Management Group LLC reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,243 shares of the pipeline company’s stock after selling 2,992 shares during the period. National Wealth Management Group LLC’s holdings in Enbridge were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its stake in 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 purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the 2nd quarter valued at about $28,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the third quarter worth about $35,000. 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 research reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Up 0.5 %

Shares of ENB stock opened at $42.90 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $43.70. The stock has a 50 day moving average of $41.52 and a 200 day moving average of $38.79. The stock has a market cap of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results 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. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Enbridge Company 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.