Verus Capital Partners LLC Cuts Stake in Enbridge Inc. (NYSE:ENB)

Verus Capital Partners LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.3% in the third quarter, Holdings Channel reports. The firm owned 6,208 shares of the pipeline company’s stock after selling 1,118 shares during the period. Verus Capital Partners LLC’s holdings in Enbridge were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter valued at about $29,000. Grove Bank & Trust grew 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 acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% during 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 in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note 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 for the company. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Performance

Shares of ENB stock opened at $42.51 on Thursday. The firm’s 50 day moving average price is $41.01 and its 200-day moving average price is $38.32. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a one year low of $32.76 and a one year high of $43.00. The firm has a market cap of $92.56 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the business posted $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.36%. Enbridge’s dividend payout ratio is 122.22%.

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.