Enbridge Inc. (NYSE:ENB) Shares Sold by Southland Equity Partners LLC

Southland Equity Partners LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,192 shares of the pipeline company’s stock after selling 472 shares during the period. Southland Equity Partners LLC’s holdings in Enbridge were worth $602,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC grew its stake in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after acquiring an additional 1,472,789 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 0.2 %

NYSE ENB opened at $44.87 on Friday. The company has a market capitalization of $97.73 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 4.15 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 Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company’s fifty day moving average price is $42.89 and its two-hundred day moving average price is $40.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company posted $0.46 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company 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 $0.67 dividend. 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 5.97%. Enbridge’s dividend payout ratio (DPR) is 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.