Pine Valley Investments Ltd Liability Co Trims Stock Holdings in Enbridge Inc. (NYSE:ENB)

Pine Valley Investments Ltd Liability Co reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,809 shares of the pipeline company’s stock after selling 250 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Enbridge were worth $713,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI lifted its stake in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after buying an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after acquiring an additional 985,546 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.78 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $91.04 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock’s 50-day moving average price is $43.38 and its 200-day moving average price is $41.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 EPS. Equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Company 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.