Enbridge Inc. (NYSE:ENB) Stake Cut by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,884 shares of the pipeline company’s stock after selling 727 shares during the period. Enbridge accounts for approximately 2.5% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 12th largest holding. Ausbil Investment Management Ltd’s holdings in Enbridge were worth $8,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. M&G Plc purchased a new position in Enbridge during the 1st quarter valued at about $152,843,000. Cibc World Market Inc. grew its holdings in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after buying an additional 3,624,089 shares during the last quarter. National Bank of Canada FI raised its holdings in Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after acquiring an additional 2,203,123 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Price Performance

ENB stock traded down $0.04 during trading on Thursday, hitting $41.18. 734,251 shares of the stock traded hands, compared to its average volume of 4,911,696. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock has a market cap of $87.87 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The company has a 50 day simple moving average of $40.50 and a 200 day simple moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the business earned $0.51 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.50%. Enbridge’s payout ratio is presently 134.01%.

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.