Hartline Investment Corp Has $1.17 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Hartline Investment Corp boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,488 shares of the pipeline company’s stock after purchasing an additional 1,453 shares during the period. Hartline Investment Corp’s holdings in Enbridge were worth $1,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at about $303,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the third quarter worth approximately $230,000. CHICAGO TRUST Co NA bought a new position in Enbridge in the third quarter worth approximately $216,000. Thomasville National Bank boosted its holdings in Enbridge by 3.7% in the third quarter. Thomasville National Bank now owns 794,061 shares of the pipeline company’s stock worth $32,247,000 after acquiring an additional 28,682 shares in the last quarter. Finally, Procyon Advisors LLC boosted its holdings in Enbridge by 8.1% in the third quarter. Procyon Advisors LLC now owns 118,201 shares of the pipeline company’s stock worth $4,800,000 after acquiring an additional 8,888 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $44.80 on Tuesday. The firm has a market capitalization of $97.60 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The stock has a fifty day moving average of $43.20 and a 200 day moving average of $41.48. 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 Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 5.98%. Enbridge’s payout ratio is 121.76%.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for 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. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.