Miller Howard Investments Inc. NY Sells 139,738 Shares of Enbridge Inc $ENB

Miller Howard Investments Inc. NY trimmed its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,086,127 shares of the pipeline company’s stock after selling 139,738 shares during the period. Enbridge accounts for approximately 1.7% of Miller Howard Investments Inc. NY’s holdings, making the stock its 24th largest position. Miller Howard Investments Inc. NY’s holdings in Enbridge were worth $54,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Hidden Cove Wealth Management LLC acquired a new position in Enbridge during the 3rd quarter worth $201,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Enbridge by 0.6% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 39,465 shares of the pipeline company’s stock worth $1,991,000 after acquiring an additional 252 shares during the last quarter. Comprehensive Money Management Services LLC lifted its stake in shares of Enbridge by 11.0% during the third quarter. Comprehensive Money Management Services LLC now owns 11,070 shares of the pipeline company’s stock valued at $559,000 after acquiring an additional 1,095 shares during the period. Invested Advisors acquired a new position in shares of Enbridge during the third quarter valued at $270,000. Finally, Kingswood Wealth Advisors LLC boosted its holdings in Enbridge by 29.5% in the third quarter. Kingswood Wealth Advisors LLC now owns 14,225 shares of the pipeline company’s stock valued at $718,000 after acquiring an additional 3,240 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Enbridge in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

Shares of ENB stock opened at $45.66 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The firm has a fifty day moving average of $47.49 and a 200-day moving average of $47.28. The firm has a market capitalization of $99.59 billion, a price-to-earnings ratio of 25.09 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 8.5%. Enbridge’s dividend payout ratio (DPR) is presently 152.75%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.