Cidel Asset Management Inc. Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Cidel Asset Management Inc. reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,490 shares of the pipeline company's stock after selling 7,082 shares during the period. Cidel Asset Management Inc.'s holdings in Enbridge were worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. apricus wealth LLC raised its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC boosted its position in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after purchasing an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock valued at $297,000 after purchasing an additional 242 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.8 %

Shares of Enbridge stock traded up $0.35 during mid-day trading on Monday, hitting $44.80. The stock had a trading volume of 2,769,395 shares, compared to its average volume of 3,878,190. The firm has a 50-day moving average of $43.20 and a two-hundred day moving average of $41.48. The firm has a market cap of $97.60 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. 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 Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.98%. Enbridge's dividend payout ratio (DPR) is 121.76%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ENB. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. 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. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average 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.