Enbridge Inc. (NYSE:ENB) Holdings Lowered by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 97.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,423 shares of the pipeline company’s stock after selling 4,457,246 shares during the quarter. Enbridge makes up 1.6% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 12th largest holding. Pathway Financial Advisers LLC’s holdings in Enbridge were worth $4,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the period. National Bank of Canada FI grew its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Enbridge by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock worth $156,098,000 after purchasing an additional 1,183,821 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $45.15 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $98.36 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a 50 day moving average price of $43.30 and a two-hundred day moving average price of $41.63.

Enbridge Cuts Dividend

The firm 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 $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 121.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ENB shares. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Company 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.