Pacifica Partners Inc. Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

Pacifica Partners Inc. cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,750 shares of the pipeline company’s stock after selling 971 shares during the quarter. Pacifica Partners Inc.’s holdings in Enbridge were worth $2,757,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rockwood Wealth Management LLC grew its holdings in shares of Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Enbridge by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after purchasing an additional 298 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares during the last quarter. Finally, Salvus Wealth Management LLC raised its position in shares of Enbridge by 1.7% in the 3rd quarter. Salvus Wealth Management LLC now owns 18,916 shares of the pipeline company’s stock worth $768,000 after purchasing an additional 315 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.6 %

Enbridge stock opened at $40.84 on Tuesday. The business has a 50-day simple moving average of $39.70 and a two-hundred day simple moving average of $37.17. The company has a market cap of $87.15 billion, a P/E ratio of 20.73, a P/E/G ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $41.35. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

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, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.55%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analysts Forecast Growth

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

Enbridge 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.