Motco Cuts Position in Enbridge Inc. (NYSE:ENB)

Motco decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 95.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,714 shares of the pipeline company’s stock after selling 79,561 shares during the quarter. Motco’s holdings in Enbridge were worth $158,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank raised its position in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares in the last quarter. Sound Income Strategies LLC raised its position in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its position in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 2.4 %

Enbridge stock opened at $42.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $93.11 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock’s fifty day moving average is $43.42 and its two-hundred day moving average is $41.98.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the company earned $0.64 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ENB shares. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $67.00.

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.