International Assets Investment Management LLC Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 25.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,705 shares of the pipeline company’s stock after selling 39,450 shares during the quarter. International Assets Investment Management LLC’s holdings in Enbridge were worth $4,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Wellington Management Group LLP raised its holdings in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Vanguard Group Inc. raised its stake in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Enbridge by 36.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Enbridge by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after purchasing an additional 2,101,021 shares during the period. Finally, Alberta Investment Management Corp grew its holdings in Enbridge by 63.4% during the 3rd quarter. Alberta Investment Management Corp now owns 4,953,563 shares of the pipeline company’s stock valued at $165,058,000 after buying an additional 1,921,200 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of ENB stock opened at $37.24 on Thursday. The business’s fifty day simple moving average is $35.41 and its 200-day simple moving average is $35.02. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.22. The company has a market cap of $79.17 billion, a PE ratio of 17.73, a PEG ratio of 3.43 and a beta of 0.87. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.27%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 127.14%.

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.