Duff & Phelps Investment Management Co. Sells 213,342 Shares of Enbridge Inc. (NYSE:ENB)

Duff & Phelps Investment Management Co. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,684,929 shares of the pipeline company’s stock after selling 213,342 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.08% of Enbridge worth $60,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbor Investment Advisory LLC boosted its holdings in shares of Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Enbridge by 24.6% during the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 300 shares during the period. Capital Investment Counsel Inc grew its position in shares of Enbridge by 5.2% in the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Enbridge by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares during the period. Finally, Marino Stram & Associates LLC lifted its holdings in Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock traded down $0.39 during mid-day trading on Tuesday, reaching $35.57. 2,566,516 shares of the company’s stock were exchanged, compared to its average volume of 5,771,094. The firm has a market capitalization of $75.62 billion, a PE ratio of 17.13, a P/E/G ratio of 3.39 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $35.22 and its 200 day simple moving average is $34.85. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. On average, sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is 129.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.20.

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.