Rockefeller Capital Management L.P. Has $10.79 Million Stake in Enbridge Inc. (NYSE:ENB)

Rockefeller Capital Management L.P. lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 265,674 shares of the pipeline company’s stock after selling 2,564 shares during the period. Rockefeller Capital Management L.P.’s holdings in Enbridge were worth $10,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. Richardson Financial Services Inc. increased its stake in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 246 shares during the last quarter. Associated Banc Corp increased its position in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 248 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after purchasing an additional 256 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after buying an additional 257 shares during the last quarter. Finally, Keudell Morrison Wealth Management grew its stake in shares of Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $43.38 on Tuesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70. The company’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $38.89. The company has a market cap of $94.48 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.26 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the business earned $0.46 earnings per share. As a group, sell-side analysts expect that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were given a dividend of $0.676 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.23%. Enbridge’s payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge 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.