Romano Brothers AND Company Decreases Stake in Enbridge Inc. (NYSE:ENB)

Romano Brothers AND Company decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,429 shares of the pipeline company’s stock after selling 500 shares during the period. Romano Brothers AND Company’s holdings in Enbridge were worth $3,510,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First PREMIER Bank grew its position in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after buying an additional 257 shares in the last quarter. Grove Bank & Trust grew its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring 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 purchasing an additional 280 shares during the last quarter. Rockwood Wealth Management LLC lifted its position in shares of Enbridge by 2.6% during the 2nd 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. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Enbridge by 3.7% during the second 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 in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Down 0.6 %

ENB stock opened at $41.22 on Thursday. The company’s 50 day moving average is $40.50 and its two-hundred day moving average is $37.66. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock has a market cap of $87.96 billion, a P/E ratio of 20.92, a PEG ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $4.28 billion. During the same quarter last year, the company posted $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.01%.

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.