Raleigh Capital Management Inc. Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Raleigh Capital Management Inc. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 48,468 shares of the pipeline company’s stock after selling 1,674 shares during the period. Enbridge accounts for 0.8% of Raleigh Capital Management Inc.’s holdings, making the stock its 28th largest position. Raleigh Capital Management Inc.’s holdings in Enbridge were worth $2,056,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the period. National Bank of Canada FI raised its stake in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ENB shares. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.77 on Thursday. The business’s 50 day simple moving average is $42.89 and its 200-day simple moving average is $40.76. The firm has a market capitalization of $97.53 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 4.20 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. 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 (NYSE:ENB) (TSE:ENB) last posted its earnings results 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. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the firm posted $0.46 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.99%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

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.