Dupree Financial Group LLC decreased its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 499,718 shares of the pipeline company’s stock after selling 4,599 shares during the period. Enbridge comprises 8.1% of Dupree Financial Group LLC’s portfolio, making the stock its largest holding. Dupree Financial Group LLC’s holdings in Enbridge were worth $20,294,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ENB. Grove Bank & Trust increased its position 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 purchasing an additional 279 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge in the second quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter valued at about $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Down 0.2 %
Shares of NYSE ENB opened at $41.46 on Wednesday. The firm’s 50-day moving average is $40.47 and its two-hundred day moving average is $37.63. The company has a market capitalization of $88.46 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.
Enbridge Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.46%. Enbridge’s dividend payout ratio (DPR) is 134.01%.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.
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.
Featured Articles
- Five stocks we like better than Enbridge
- What is a Low P/E Ratio and What Does it Tell Investors?
- Rambus Stock Poised for Growth – Will the AI Boom Deliver?
- Comparing and Trading High PE Ratio Stocks
- PulteGroup Earnings Signal Potential Entry Points for Investors
- What is a Dividend King?
- Cisco: Why Analysts Are Targeting 35% Gains by Christmas
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.