Enbridge Inc $ENB Shares Sold by Hutchinson Financial Advisors INC

Hutchinson Financial Advisors INC lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,434 shares of the pipeline company’s stock after selling 16,457 shares during the quarter. Enbridge accounts for approximately 2.1% of Hutchinson Financial Advisors INC’s investment portfolio, making the stock its 17th largest position. Hutchinson Financial Advisors INC’s holdings in Enbridge were worth $2,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC grew its stake in shares of Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Enbridge during the second quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in Enbridge during the second quarter worth approximately $31,000. Addison Advisors LLC acquired a new position in Enbridge in the second quarter worth approximately $35,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Enbridge in the second quarter valued at $36,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.2%

Shares of Enbridge stock opened at $46.65 on Monday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a market cap of $101.75 billion, a P/E ratio of 25.63 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average price of $47.55 and a 200 day moving average price of $47.16.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period last year, the firm earned $0.55 EPS. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 8.3%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ENB. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.