Enbridge Inc. (NYSE:ENB) Holdings Lowered by Tacita Capital Inc

Tacita Capital Inc trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,751 shares of the pipeline company’s stock after selling 4,277 shares during the quarter. Enbridge comprises 1.9% of Tacita Capital Inc’s holdings, making the stock its 17th biggest position. Tacita Capital Inc’s holdings in Enbridge were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. apricus wealth LLC grew its stake 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 during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after acquiring an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $42.68 on Tuesday. The company’s 50 day moving average price is $43.44 and its 200 day moving average price is $42.04. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a market capitalization of $93.00 billion, a PE ratio of 24.81, a PEG ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the company earned $0.64 earnings per share. Research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s payout ratio is 155.81%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Company 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.