Enbridge Inc. (NYSE:ENB) Shares Sold by Pacifica Partners Inc.

Pacifica Partners Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,660 shares of the pipeline company’s stock after selling 1,090 shares during the quarter. Enbridge comprises about 1.2% of Pacifica Partners Inc.’s investment portfolio, making the stock its 28th biggest position. Pacifica Partners Inc.’s holdings in Enbridge were worth $2,861,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after acquiring an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after purchasing an additional 644,526 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Stock Up 1.5 %

Shares of NYSE ENB opened at $44.04 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $95.93 billion, a PE ratio of 20.39, a P/E/G ratio of 4.14 and a beta of 0.93. The firm has a fifty day moving average of $42.62 and a 200-day moving average of $40.42. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $0.46 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

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.