Latitude Advisors LLC Sells 492 Shares of Enbridge Inc. (NYSE:ENB)

Latitude Advisors LLC decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,379 shares of the pipeline company’s stock after selling 492 shares during the period. Latitude Advisors LLC’s holdings in Enbridge were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Enbridge by 1,514.7% during 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 grew its holdings in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Enbridge by 27.8% during the 3rd 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 acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ENB shares. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $44.80 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company’s 50 day moving average price is $43.20 and its two-hundred day moving average price is $41.48. The company has a market capitalization of $97.60 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.98%. Enbridge’s dividend payout ratio is currently 121.76%.

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.