Montrusco Bolton Investments Inc. Sells 83,061 Shares of Enbridge Inc. (NYSE:ENB)

Montrusco Bolton Investments Inc. reduced its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,273 shares of the pipeline company's stock after selling 83,061 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in Enbridge were worth $37,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. apricus wealth LLC raised its holdings in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of Enbridge by 3.2% in the 4th 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 in the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after purchasing an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock worth $297,000 after purchasing an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ENB. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. 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 report on Wednesday, December 4th. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Enbridge currently has a consensus rating of "Hold" and an average target price of $63.00.

Enbridge Stock Down 2.7 %

ENB traded down $1.21 on Friday, reaching $43.29. 6,187,249 shares of the company traded hands, compared to its average volume of 3,494,552. The stock's 50 day moving average price is $43.11 and its 200-day moving average price is $41.15. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a market cap of $94.31 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 4.11 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is presently 124.07%.

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.