Louisbourg Investments Inc. Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Louisbourg Investments Inc. decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,061 shares of the pipeline company’s stock after selling 300 shares during the quarter. Louisbourg Investments Inc.’s holdings in Enbridge were worth $681,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. apricus wealth LLC lifted its holdings in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after buying an additional 227 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC lifted its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after buying an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after buying an additional 242 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for 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 initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Performance

NYSE ENB opened at $45.29 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 has a 50 day moving average price of $43.27 and a 200 day moving average price of $41.60. The company has a market capitalization of $98.65 billion, a P/E ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.92%. Enbridge’s dividend payout ratio is currently 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.