Griffin Asset Management Inc. Has $4.05 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Griffin Asset Management Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 95,378 shares of the pipeline company’s stock after selling 15,822 shares during the period. Griffin Asset Management Inc.’s holdings in Enbridge were worth $4,047,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the second quarter valued at approximately $28,000. McIlrath & Eck LLC lifted its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the fourth quarter worth approximately $29,000. Grove Bank & Trust grew its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 0.8 %

Shares of ENB stock opened at $44.72 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $97.41 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93. The business has a 50-day moving average price of $42.99 and a two-hundred day moving average price of $40.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.99%. Enbridge’s payout ratio is 121.76%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.