Enbridge Inc. (NYSE:ENB) Shares Sold by Hartford Financial Management Inc.

by · The Cerbat Gem

Hartford Financial Management Inc. cut its stake in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 18.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,680 shares of the pipeline company’s stock after selling 11,211 shares during the quarter. Hartford Financial Management Inc.’s holdings in Enbridge were worth $2,018,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC raised its stake in shares of Enbridge by 3.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 28,799 shares of the pipeline company’s stock worth $1,042,000 after buying an additional 938 shares during the period. Principal Financial Group Inc. raised its stake in shares of Enbridge by 151.6% during the 1st quarter. Principal Financial Group Inc. now owns 43,461 shares of the pipeline company’s stock worth $1,572,000 after buying an additional 26,185 shares during the period. HB Wealth Management LLC raised its stake in shares of Enbridge by 11.3% during the 1st quarter. HB Wealth Management LLC now owns 8,094 shares of the pipeline company’s stock worth $293,000 after buying an additional 824 shares during the period. Norden Group LLC acquired a new position in shares of Enbridge during the 1st quarter worth approximately $360,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of Enbridge during the 1st quarter worth approximately $1,200,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5 %

Shares of ENB opened at $40.40 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a one year low of $31.68 and a one year high of $42.16. The stock has a market capitalization of $87.97 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.93 and a beta of 0.93. The stock has a 50 day moving average price of $40.72 and a 200 day moving average price of $37.89.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations 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 business earned $0.51 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 137.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Read Our Latest Analysis on ENB

About Enbridge

(Free Report)

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.

Further Reading

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