Energy Income Partners LLC Lowers Stock Position in Enbridge Inc $ENB

Energy Income Partners LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 18.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,500,186 shares of the pipeline company’s stock after selling 347,741 shares during the period. Enbridge makes up about 1.3% of Energy Income Partners LLC’s holdings, making the stock its 27th biggest position. Energy Income Partners LLC’s holdings in Enbridge were worth $67,988,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Engineers Gate Manager LP acquired a new position in Enbridge during the second quarter worth $255,000. Curi Capital LLC boosted its position in shares of Enbridge by 10.5% during the 2nd quarter. Curi Capital LLC now owns 10,021 shares of the pipeline company’s stock worth $454,000 after purchasing an additional 951 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of Enbridge by 13.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 66,069 shares of the pipeline company’s stock worth $2,990,000 after purchasing an additional 7,864 shares during the period. Bluefin Capital Management LLC increased its holdings in shares of Enbridge by 25.8% in the 2nd quarter. Bluefin Capital Management LLC now owns 8,300 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 1,700 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Enbridge by 21.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,324,038 shares of the pipeline company’s stock valued at $105,453,000 after purchasing an additional 413,408 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Royal Bank Of Canada boosted their price target on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Trading Up 0.3%

Shares of Enbridge stock opened at $47.55 on Friday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The business has a 50 day moving average price of $47.74 and a 200 day moving average price of $47.13. The company has a market capitalization of $103.71 billion, a P/E ratio of 26.12 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the company posted $0.55 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 147.80%.

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.