Diversified Trust Co Trims Stock Holdings in Enbridge Inc. (NYSE:ENB)

Diversified Trust Co lessened its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,070 shares of the pipeline company’s stock after selling 599 shares during the quarter. Diversified Trust Co’s holdings in Enbridge were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Enbridge by 1,514.7% in 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 buying an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $44.05 on Thursday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13. 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 firm has a market capitalization of $95.95 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The business has a 50 day simple moving average of $42.37 and a 200-day simple moving average of $40.15.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results 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 analysts’ expectations of $4.54 billion. During the same period in the prior year, the business earned $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.00.

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.