Outfitter Financial LLC Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Outfitter Financial LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 24.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,250 shares of the pipeline company’s stock after selling 3,693 shares during the period. Outfitter Financial LLC’s holdings in Enbridge were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Enbridge during the 4th quarter worth about $85,000. Allianz Asset Management GmbH boosted its position in Enbridge by 9.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,148,864 shares of the pipeline company’s stock worth $48,736,000 after purchasing an additional 96,591 shares in the last quarter. Boston Financial Mangement LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $224,000. First Bank & Trust increased its position in shares of Enbridge by 0.5% in the fourth quarter. First Bank & Trust now owns 88,171 shares of the pipeline company’s stock valued at $3,741,000 after buying an additional 451 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Enbridge by 1.7% during the 4th quarter. Concurrent Investment Advisors LLC now owns 50,095 shares of the pipeline company’s stock worth $2,126,000 after buying an additional 841 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research analyst reports. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Price Performance

Shares of NYSE ENB opened at $41.95 on Friday. The stock has a market capitalization of $91.40 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 3.95 and a beta of 0.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a 50-day simple moving average of $43.35 and a 200-day simple moving average of $41.84. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The business 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 period in the previous year, the firm posted $0.64 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.39%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

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.