Enbridge Inc $ENB Shares Sold by Heronetta Management L.P.

Heronetta Management L.P. lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,266 shares of the pipeline company’s stock after selling 4,108 shares during the quarter. Enbridge comprises 5.5% of Heronetta Management L.P.’s holdings, making the stock its 7th biggest position. Heronetta Management L.P.’s holdings in Enbridge were worth $8,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new position in Enbridge in the first quarter valued at about $25,000. Whipplewood Advisors LLC raised its stake in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Enbridge in the first quarter valued at about $28,000. Accent Capital Management LLC acquired a new position in Enbridge in the first quarter valued at about $30,000. Finally, FNY Investment Advisers LLC acquired a new position in Enbridge in the second quarter valued at about $36,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.4%

Shares of NYSE ENB opened at $46.59 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market cap of $101.61 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a 50-day moving average price of $48.31 and a two-hundred day moving average price of $46.73.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 8.1%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.50.

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.