Shufro Rose & Co. LLC Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Shufro Rose & Co. LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,643 shares of the pipeline company’s stock after selling 300 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Enbridge were worth $1,880,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Enbridge by 98.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares during the period. Clarius Group LLC boosted its stake in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 1,617 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its stake in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 473 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.44 during midday trading on Friday, reaching $35.82. The company had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The business’s 50-day simple moving average is $35.19 and its 200 day simple moving average is $34.82. The stock has a market cap of $76.15 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.36 and a beta of 0.84. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. On average, analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 127.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of $55.20.

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.