Enbridge Inc. (NYSE:ENB) is Addenda Capital Inc.'s 8th Largest Position

Addenda Capital Inc. lowered its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,597,217 shares of the pipeline company's stock after selling 53,528 shares during the period. Enbridge makes up approximately 3.1% of Addenda Capital Inc.'s investment portfolio, making the stock its 8th largest holding. Addenda Capital Inc. owned 0.07% of Enbridge worth $67,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at $28,000. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% during the 3rd 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. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

ENB traded up $0.84 during trading on Tuesday, hitting $45.35. The company's stock had a trading volume of 7,520,093 shares, compared to its average volume of 4,039,558. The firm has a market capitalization of $98.79 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 4.13 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The business's fifty day simple moving average is $42.79 and its 200 day simple moving average is $40.66. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results 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. The firm had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company earned $0.46 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is 121.76%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.00.

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.