Outfitter Financial LLC Decreases Stock Position in Enbridge Inc. (NYSE:ENB)

Outfitter Financial LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,943 shares of the pipeline company’s stock after selling 1,100 shares during the quarter. Outfitter Financial LLC’s holdings in Enbridge were worth $538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Enbridge by 36.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after purchasing an additional 2,814,200 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Enbridge by 11.3% in the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after purchasing an additional 2,101,021 shares during the period. Finally, Alberta Investment Management Corp raised its position in shares of Enbridge by 63.4% during the 3rd quarter. Alberta Investment Management Corp now owns 4,953,563 shares of the pipeline company’s stock worth $165,058,000 after purchasing an additional 1,921,200 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ENB shares. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

ENB stock traded up $0.49 during mid-day trading on Friday, hitting $37.85. 2,600,747 shares of the stock were exchanged, compared to its average volume of 5,753,111. The business has a fifty day moving average price of $35.53 and a 200 day moving average price of $35.05. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $39.58. The stock has a market capitalization of $80.47 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 3.43 and a beta of 0.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.15%. Enbridge’s dividend payout ratio is currently 127.14%.

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.