Enbridge Inc. (NYSE:ENB) Shares Sold by Greenleaf Trust

Greenleaf Trust trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,959 shares of the pipeline company’s stock after selling 2,143 shares during the period. Greenleaf Trust’s holdings in Enbridge were worth $932,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enbridge Trading Down 0.7 %

Shares of ENB stock opened at $42.94 on Tuesday. The firm’s 50-day simple moving average is $43.11 and its 200-day simple moving average is $41.22. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $93.54 billion, a P/E ratio of 19.88, a PEG ratio of 4.02 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 1.97 EPS for the current 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 issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

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.