Chickasaw Capital Management LLC Sells 3,817 Shares of Enbridge Inc. (NYSE:ENB)

Chickasaw Capital Management LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 167,064 shares of the pipeline company’s stock after selling 3,817 shares during the quarter. Enbridge comprises approximately 0.3% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Chickasaw Capital Management LLC’s holdings in Enbridge were worth $7,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. William B. Walkup & Associates Inc. bought a new stake in Enbridge in the second quarter valued at approximately $28,000. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter worth about $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.5 %

ENB stock traded up $0.63 during mid-day trading on Tuesday, reaching $43.62. 1,731,579 shares of the company traded hands, compared to its average volume of 2,536,841. The stock has a market cap of $95.02 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The firm’s 50 day moving average price is $42.24 and its 200 day moving average price is $40.06. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research analyst reports. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Company 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.