Enbridge Inc. (NYSE:ENB) Shares Sold by CGN Advisors LLC

CGN Advisors LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,067 shares of the pipeline company’s stock after selling 1,475 shares during the period. CGN Advisors LLC’s holdings in Enbridge were worth $3,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after buying an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC lifted its position in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Enbridge by 27.8% in 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 position in Enbridge by 12.8% in the third 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. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Enbridge by 55.2% during the third 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. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

NYSE:ENB opened at $44.53 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.90. The stock has a 50-day simple moving average of $42.71 and a 200 day simple moving average of $40.47.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ENB shares. TD Securities began coverage on shares of Enbridge in a research note on Wednesday. They issued a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.