Pine Valley Investments Ltd Liability Co Sells 250 Shares of Enbridge Inc. (NYSE:ENB)

Pine Valley Investments Ltd Liability Co lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,809 shares of the pipeline company’s stock after selling 250 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Enbridge were worth $713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the period. National Bank of Canada FI lifted its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 valued at $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $41.78 on Thursday. The company has a market capitalization of $91.04 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.92 and a beta of 0.94. The company’s 50-day simple moving average is $43.38 and its two-hundred day simple moving average is $41.95. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. Enbridge’s payout ratio is currently 155.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.00.

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.