KRS Capital Management LLC Has $256,000 Position in Enbridge Inc. (NYSE:ENB)

KRS Capital Management LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,040 shares of the pipeline company’s stock after selling 630 shares during the quarter. KRS Capital Management LLC’s holdings in Enbridge were worth $256,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Galibier Capital Management Ltd. boosted its holdings in Enbridge by 26.0% during the fourth quarter. Galibier Capital Management Ltd. now owns 809,045 shares of the pipeline company’s stock worth $34,320,000 after buying an additional 167,181 shares during the last quarter. Verity & Verity LLC boosted its stake in Enbridge by 8.4% in the 4th quarter. Verity & Verity LLC now owns 537,672 shares of the pipeline company’s stock valued at $22,813,000 after purchasing an additional 41,609 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Enbridge by 4.8% during the 4th quarter. Arkadios Wealth Advisors now owns 10,529 shares of the pipeline company’s stock valued at $447,000 after acquiring an additional 483 shares during the period. O Keefe Stevens Advisory Inc. raised its holdings in shares of Enbridge by 40.0% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 21,230 shares of the pipeline company’s stock worth $901,000 after buying an additional 6,064 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Enbridge by 12.5% during the 4th quarter. Merit Financial Group LLC now owns 29,073 shares of the pipeline company’s stock worth $1,234,000 after buying an additional 3,232 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock traded up $0.50 during midday trading on Friday, hitting $44.53. The company’s stock had a trading volume of 7,091,939 shares, compared to its average volume of 2,344,551. The firm has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a 50 day moving average of $42.71 and a two-hundred day moving average of $40.47. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.90. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities began coverage on Enbridge in a report on Wednesday. They issued a “buy” rating for the company. 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 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. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

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.