PFG Investments LLC Trims Holdings in Enbridge Inc. (NYSE:ENB)

PFG Investments LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,124 shares of the pipeline company’s stock after selling 4,947 shares during the quarter. PFG Investments LLC’s holdings in Enbridge were worth $896,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a 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. According to MarketBeat.com, Enbridge has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $44.51 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The business’s 50 day moving average price is $43.03 and its 200-day moving average price is $40.99. The firm has a market capitalization of $96.94 billion, a PE ratio of 20.60, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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 firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

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.