Zimmer Partners LP Has $3.22 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Zimmer Partners LP reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 97.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,200 shares of the pipeline company's stock after selling 3,110,400 shares during the period. Zimmer Partners LP's holdings in Enbridge were worth $3,218,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank increased its position 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 acquiring an additional 207,200 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after acquiring an additional 15,207 shares during the period. Stonegate Investment Group LLC boosted 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 worth $1,374,000 after acquiring an additional 13,515 shares in the last quarter. CIBC Asset Management Inc increased its stake in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after acquiring an additional 936,863 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company's stock valued at $882,000 after acquiring an additional 19,344 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. 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. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $63.00.

Enbridge Price Performance

ENB stock traded down $0.78 during midday trading on Friday, reaching $43.14. 4,658,510 shares of the stock were exchanged, compared to its average volume of 4,341,864. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $93.96 billion, a PE ratio of 19.97, a P/E/G ratio of 4.30 and a beta of 0.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13. The company has a fifty day moving average price of $41.84 and a 200 day moving average price of $39.05.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.03 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge's dividend payout ratio (DPR) is presently 124.07%.

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.