Harbor Advisory Corp MA Sells 5,223 Shares of Enbridge Inc. (NYSE:ENB)

Harbor Advisory Corp MA cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,626 shares of the pipeline company’s stock after selling 5,223 shares during the period. Harbor Advisory Corp MA’s holdings in Enbridge were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ENB. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the first quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge during the first quarter worth approximately $31,000. Finally, Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Down 0.3 %

NYSE:ENB traded down $0.11 during trading hours on Tuesday, hitting $41.43. The stock had a trading volume of 475,963 shares, compared to its average volume of 4,932,263. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market cap of $88.41 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 3.94 and a beta of 0.93. The business’s 50 day moving average is $40.43 and its 200-day moving average is $37.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the company earned $0.51 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 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.