Investment Partners LTD. Has $504,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Investment Partners LTD. lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,989 shares of the pipeline company’s stock after selling 738 shares during the period. Investment Partners LTD.’s holdings in Enbridge were worth $504,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ENB. Wellington Management Group LLP lifted its holdings in shares of Enbridge by 630.3% in 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 purchasing an additional 28,076,386 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 5.7% in the third 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 in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after purchasing an additional 2,814,200 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after purchasing an additional 2,756,079 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Enbridge by 11.3% in the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after purchasing an additional 2,101,021 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

Enbridge stock traded down $0.44 during mid-day trading on Friday, reaching $35.82. 4,385,230 shares of the company’s stock were exchanged, compared to its average volume of 6,269,155. The business’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $34.80. The firm has a market capitalization of $76.15 billion, a PE ratio of 17.06, a P/E/G ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, sell-side analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. Enbridge’s payout ratio is presently 129.05%.

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.