Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,832 shares of the pipeline company’s stock after selling 1,035 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Enbridge were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after buying an additional 1,353,753 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after buying an additional 2,756,079 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research reports. Stifel Nicolaus began coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.44 on Friday, hitting $35.82. 4,385,230 shares of the company traded hands, compared to its average volume of 6,269,155. The stock has a market capitalization of $76.15 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 3.40 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The business has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $34.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. Research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.56%. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 129.05%.

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.