Enbridge Inc. (NYSE:ENB) Holdings Lowered by United Services Automobile Association

United Services Automobile Association trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,371 shares of the pipeline company’s stock after selling 8,041 shares during the period. United Services Automobile Association’s holdings in Enbridge were worth $2,859,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Richardson Financial Services Inc. lifted its holdings in shares of Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the last quarter. Associated Banc Corp lifted its stake in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 248 shares in the last quarter. Centaurus Financial Inc. lifted its stake in Enbridge by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after acquiring an additional 256 shares in the last quarter. First PREMIER Bank lifted its stake in Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 257 shares in the last quarter. Finally, Keudell Morrison Wealth Management lifted its stake in Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock worth $822,000 after acquiring an additional 277 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Enbridge stock opened at $43.14 on Friday. The business has a 50 day simple moving average of $41.89 and a 200 day simple moving average of $39.11. 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 one year low of $32.85 and a one year high of $44.13. The company has a market capitalization of $93.96 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.30 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the company posted $0.46 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $63.00.

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.