Viking Fund Management LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 64.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,500 shares of the pipeline company's stock after selling 190,000 shares during the quarter. Viking Fund Management LLC's holdings in Enbridge were worth $4,434,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Swiss National Bank grew its stake in 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 buying an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake 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 valued at $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc raised its position in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock worth $1,374,000 after purchasing an additional 13,515 shares during the last quarter. Institutional investors own 54.60% of the company's stock.
Analysts Set New Price Targets
ENB has been the topic of several recent analyst reports. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. 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. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.00.
Read Our Latest Stock Analysis on ENB
Enbridge Trading Down 1.2 %
Shares of ENB stock traded down $0.54 during mid-day trading on Wednesday, reaching $44.77. 4,317,203 shares of the stock traded hands, compared to its average volume of 4,060,871. The company has a market cap of $97.53 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. 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 stock's fifty day simple moving average is $42.85 and its two-hundred day simple moving average is $40.73. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.
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 the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $0.46 EPS. On average, research analysts anticipate 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 issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.99%. Enbridge's payout ratio is 121.76%.
Enbridge Company Profile
(
Free Report)
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.
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