Rockefeller Capital Management L.P. Sells 3,702 Shares of Enbridge Inc $ENB

Rockefeller Capital Management L.P. lessened its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 297,541 shares of the pipeline company’s stock after selling 3,702 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enbridge were worth $13,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dagco Inc. bought a new stake in Enbridge during the 1st quarter valued at $25,000. Whipplewood Advisors LLC grew its holdings in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of Enbridge in the first quarter valued at about $30,000. Addison Advisors LLC bought a new position in shares of Enbridge during the second quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Enbridge during the second quarter valued at about $36,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1%

Shares of NYSE:ENB opened at $48.29 on Wednesday. The firm has a market capitalization of $105.33 billion, a P/E ratio of 23.79, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a 50 day moving average price of $48.26 and a 200-day moving average price of $46.85. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Analysts Set New Price Targets

Several analysts recently issued reports on ENB shares. Zacks Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research note on Monday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.