Osher Van de Voorde Investment Management Has $18.15 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Osher Van de Voorde Investment Management cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 446,950 shares of the pipeline company’s stock after selling 800 shares during the quarter. Enbridge comprises 3.9% of Osher Van de Voorde Investment Management’s holdings, making the stock its 17th biggest position. Osher Van de Voorde Investment Management’s holdings in Enbridge were worth $18,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ENB. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $31,000. Finally, PFS Partners LLC boosted its position in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $51.50.

Enbridge Trading Down 0.5 %

Shares of Enbridge stock opened at $40.63 on Wednesday. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $41.35. The stock has a market cap of $86.70 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $39.85 and its 200-day moving average is $37.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business posted $0.51 EPS. Equities research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

About Enbridge

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.