Mitchell Mcleod Pugh & Williams Inc. Reduces Position in Enbridge Inc. (NYSE:ENB)

Mitchell Mcleod Pugh & Williams Inc. decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,370 shares of the pipeline company’s stock after selling 2,952 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Enbridge were worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after purchasing an additional 644,526 shares in the last quarter. National Bank of Canada FI grew its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 1.1 %

Shares of NYSE:ENB opened at $44.53 on Monday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.90. The stock has a market cap of $97.00 billion, a P/E ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. The business has a fifty day moving average of $42.75 and a two-hundred day moving average of $40.57. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is presently 121.76%.

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.