M&G Plc Trims Stake in Enbridge Inc. (NYSE:ENB)

M&G Plc lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,667,255 shares of the pipeline company’s stock after selling 393,014 shares during the quarter. Enbridge accounts for 0.8% of M&G Plc’s holdings, making the stock its 28th largest holding. M&G Plc owned 0.17% of Enbridge worth $149,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge in the 1st quarter valued at $29,000. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC raised its holdings 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 buying an additional 280 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ENB. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday.

Enbridge Price Performance

Shares of NYSE ENB opened at $41.54 on Thursday. The stock’s 50-day moving average is $40.82 and its two-hundred day moving average is $38.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68. Enbridge Inc. has a 1-year low of $32.76 and a 1-year high of $42.16. The company has a market cap of $90.45 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the prior year, the firm posted $0.46 EPS. Analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is currently 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.