Griffin Asset Management Inc. Reduces Stake in Enbridge Inc. (NYSE:ENB)

Griffin Asset Management Inc. lowered its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,378 shares of the pipeline company's stock after selling 15,822 shares during the quarter. Griffin Asset Management Inc.'s holdings in Enbridge were worth $4,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Swiss National Bank raised its holdings in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock worth $52,880,000 after acquiring an additional 319,907 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ENB shares. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Morgan Stanley started 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 raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price target (up previously 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and a consensus target price of $63.00.

Enbridge Stock Down 2.4 %

ENB stock traded down $1.06 during trading on Friday, reaching $43.45. The stock had a trading volume of 3,952,261 shares, compared to its average volume of 3,845,945. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company's 50 day moving average is $43.11 and its two-hundred day moving average is $41.10. 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 company has a market capitalization of $94.64 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly 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 business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts forecast 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 paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.17%. Enbridge's payout ratio is 121.76%.

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.