Independent Solutions Wealth Management LLC Has $1.43 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Independent Solutions Wealth Management LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.7% during the third quarter, Holdings Channel reports. The institutional investor owned 35,160 shares of the pipeline company’s stock after selling 2,508 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Enbridge were worth $1,428,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank grew its holdings in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC grew its position in Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after buying an additional 13,515 shares during the period. Finally, CIBC Asset Management Inc raised its position in 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 acquiring an additional 936,863 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Enbridge stock traded up $0.39 during midday trading on Thursday, hitting $40.89. 2,328,763 shares of the company’s stock were exchanged, compared to its average volume of 4,842,052. The company has a market cap of $89.06 billion, a P/E ratio of 18.93, a PEG ratio of 4.18 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a 50-day moving average price of $42.04 and a two-hundred day moving average price of $39.42. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 124.07%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $63.00.

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.