Cidel Asset Management Inc. Decreases Stake in Enbridge Inc. (NYSE:ENB)

Cidel Asset Management Inc. reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,490 shares of the pipeline company’s stock after selling 7,082 shares during the quarter. Cidel Asset Management Inc.’s holdings in Enbridge were worth $2,524,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Enbridge during the fourth quarter valued at approximately $103,000. Strategic Financial Concepts LLC raised its holdings in shares of Enbridge by 4,134.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 307,820 shares of the pipeline company’s stock valued at $13,061,000 after buying an additional 300,551 shares in the last quarter. Leo Wealth LLC lifted its holdings in shares of Enbridge by 42.1% in the 4th quarter. Leo Wealth LLC now owns 10,754 shares of the pipeline company’s stock worth $456,000 after acquiring an additional 3,186 shares during the last quarter. Consolidated Portfolio Review Corp boosted its position in Enbridge by 28.0% during the fourth quarter. Consolidated Portfolio Review Corp now owns 8,754 shares of the pipeline company’s stock valued at $371,000 after buying an additional 1,917 shares during the period. Finally, Telos Capital Management Inc. boosted its holdings in Enbridge by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 141,663 shares of the pipeline company’s stock valued at $6,011,000 after acquiring an additional 2,285 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 0.7 %

ENB stock opened at $44.51 on Friday. 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 business has a 50 day moving average of $43.18 and a 200 day moving average of $41.36. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market cap of $96.96 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

About Enbridge

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.