Ashton Thomas Private Wealth LLC Decreases Stock Position in Enbridge Inc. (NYSE:ENB)

Ashton Thomas Private Wealth LLC decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,529 shares of the pipeline company’s stock after selling 957 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Enbridge were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $29,000. 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. Finally, 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. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Trading Up 0.8 %

Shares of Enbridge stock opened at $42.51 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $41.01 and a 200-day simple moving average of $38.32. The stock has a market cap of $92.56 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.76 and a 12-month high of $43.00.

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, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.36%. Enbridge’s payout ratio is 122.22%.

About Enbridge

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.