Franklin Resources Inc. Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Franklin Resources Inc. lessened its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,272,510 shares of the pipeline company's stock after selling 27,526 shares during the quarter. Franklin Resources Inc. owned 0.06% of Enbridge worth $53,048,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter worth about $28,000. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares during the period. Grove Bank & Trust increased its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its stake 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 acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the third quarter valued at approximately $35,000. Institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

NYSE ENB traded down $0.90 on Wednesday, reaching $40.50. The company had a trading volume of 4,400,303 shares, compared to its average volume of 4,853,265. The stock has a market capitalization of $88.21 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm's 50 day moving average price is $42.04 and its 200 day moving average price is $39.42.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is presently 124.07%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent analyst reports. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. 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. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.