Mediolanum International Funds Ltd Has $3.42 Million Stake in Enbridge Inc. (NYSE:ENB)

Mediolanum International Funds Ltd lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,840 shares of the pipeline company’s stock after selling 11,113 shares during the period. Mediolanum International Funds Ltd’s holdings in Enbridge were worth $3,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ENB. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% in 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 during the period. MFA Wealth Advisors LLC lifted its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the second quarter worth $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Enbridge in the 1st quarter valued at $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday. They set an “equal weight” rating for the company. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Performance

Enbridge stock opened at $40.94 on Friday. The firm has a market capitalization of $89.16 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93. The stock has a fifty day moving average price of $40.60 and a two-hundred day moving average price of $37.72. Enbridge Inc. has a 52-week low of $31.31 and a 52-week 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 (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 business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company posted $0.51 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 137.50%.

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.