Enbridge Inc. (NYSE:ENB) Stake Lessened by Guinness Asset Management LTD

Guinness Asset Management LTD trimmed its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,654 shares of the pipeline company's stock after selling 38,700 shares during the quarter. Guinness Asset Management LTD's holdings in Enbridge were worth $10,868,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position 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 worth $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 last quarter. Duff & Phelps Investment Management Co. grew its position in shares of Enbridge by 32.6% in the 3rd 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. Pinnacle Financial Partners Inc increased its holdings in shares of Enbridge by 8.8% in the 3rd 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 last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Stock Performance

Enbridge stock traded up $0.50 during midday trading on Monday, reaching $44.53. 7,091,939 shares of the stock traded hands, compared to its average volume of 2,344,551. The firm has a fifty day moving average price of $42.75 and a two-hundred day moving average price of $40.60. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.90. The firm 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 company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during 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 firm posted $0.46 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is 121.76%.

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.