Gateway Investment Advisers LLC Sells 38,116 Shares of Enbridge Inc. (NYSE:ENB)

Gateway Investment Advisers LLC trimmed its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 83.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,601 shares of the pipeline company's stock after selling 38,116 shares during the period. Gateway Investment Advisers LLC's holdings in Enbridge were worth $323,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% in the fourth 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 lifted its stake in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock worth $45,000 after buying an additional 246 shares during the period. Associated Banc Corp increased its stake in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock worth $288,000 after buying an additional 248 shares in the last quarter. Finally, Hobbs Group Advisors LLC raised its holdings in Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company's stock valued at $77,000 after acquiring an additional 249 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Enbridge stock traded up $0.50 during mid-day trading on Monday, reaching $44.53. 7,091,939 shares of the company's stock traded hands, compared to its average volume of 2,344,551. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.90. The company has a market cap of $97.00 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. The stock has a 50 day moving average of $42.75 and a two-hundred day moving average of $40.60. 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 - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate 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 firm earned $0.46 EPS. Equities analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on ENB. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of "Hold" and a consensus price target 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.