Ausbil Investment Management Ltd Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Ausbil Investment Management Ltd cut its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,329 shares of the pipeline company's stock after selling 86,555 shares during the quarter. Enbridge accounts for 3.1% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 11th largest holding. Ausbil Investment Management Ltd's holdings in Enbridge were worth $5,188,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ENB. Caprock Group LLC boosted its position in shares of Enbridge by 22.1% during the 4th quarter. Caprock Group LLC now owns 41,298 shares of the pipeline company's stock worth $1,752,000 after purchasing an additional 7,462 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Enbridge in the fourth quarter worth approximately $52,000. Country Trust Bank grew its stake in Enbridge by 133.5% in the fourth quarter. Country Trust Bank now owns 2,438 shares of the pipeline company's stock valued at $103,000 after acquiring an additional 1,394 shares during the period. Sonora Investment Management Group LLC increased its holdings in shares of Enbridge by 7.7% during the fourth quarter. Sonora Investment Management Group LLC now owns 17,324 shares of the pipeline company's stock valued at $735,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its position in shares of Enbridge by 0.9% during the fourth quarter. Boomfish Wealth Group LLC now owns 37,703 shares of the pipeline company's stock worth $1,600,000 after purchasing an additional 318 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Down 2.7 %

Shares of ENB stock traded down $1.21 on Friday, hitting $43.29. The stock had a trading volume of 6,187,249 shares, compared to its average volume of 3,494,552. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The business has a 50 day moving average of $43.11 and a 200 day moving average of $41.15. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market cap of $94.31 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate 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 last year, the business posted $0.46 EPS. As a group, analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced 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 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is presently 124.07%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and a consensus price target of $63.00.

Enbridge 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.