Premier Fund Managers Ltd Reduces Stake in Enbridge Inc. (NYSE:ENB)

Premier Fund Managers Ltd lessened its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 12.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,000 shares of the pipeline company’s stock after selling 25,000 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $6,305,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BOK Financial Private Wealth Inc. bought a new stake in Enbridge during the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the fourth quarter valued at $28,000. Financial Gravity Asset Management Inc. raised its position in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in Enbridge during the fourth quarter worth about $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.1 %

Shares of NYSE ENB traded down $0.40 during midday trading on Tuesday, reaching $36.03. The company had a trading volume of 4,477,766 shares, compared to its average volume of 5,844,387. The stock has a market cap of $76.60 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.50 and a beta of 0.90. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The firm’s fifty day moving average price is $35.88 and its 200-day moving average price is $35.52. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. On average, equities research analysts anticipate that Enbridge Inc. will post 2.09 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.20.

View Our Latest Research Report on ENB

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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