Stephens Inc. AR Reduces Stake in Enbridge Inc. (NYSE:ENB)

Stephens Inc. AR trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 99,565 shares of the pipeline company’s stock after selling 4,048 shares during the quarter. Stephens Inc. AR’s holdings in Enbridge were worth $4,225,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank increased its holdings in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 0.8 %

Shares of NYSE:ENB opened at $44.80 on Tuesday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock’s 50-day moving average price is $43.20 and its two-hundred day moving average price is $41.48. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $97.60 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.08 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. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.