Tacita Capital Inc Sells 4,277 Shares of Enbridge Inc. (NYSE:ENB)

Tacita Capital Inc lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,751 shares of the pipeline company’s stock after selling 4,277 shares during the quarter. Enbridge comprises approximately 1.9% of Tacita Capital Inc’s holdings, making the stock its 17th largest holding. Tacita Capital Inc’s holdings in Enbridge were worth $2,615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank increased its holdings in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares during the period. Metis Global Partners LLC increased its holdings in Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after buying an additional 319,907 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.1 %

Shares of NYSE ENB opened at $42.68 on Tuesday. The firm has a market capitalization of $93.00 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm’s 50-day moving average is $43.44 and its 200-day moving average is $42.04.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.28%. The ex-dividend date was Friday, February 14th. Enbridge’s payout ratio is 155.81%.

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.