Enbridge Inc. (NYSE:ENB) Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,811 shares of the pipeline company’s stock after selling 829 shares during the quarter. Enbridge comprises 1.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 26th biggest holding. Triasima Portfolio Management inc.’s holdings in Enbridge were worth $5,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ENB. AQR Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth approximately $303,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of Enbridge by 3.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 53,501 shares of the pipeline company’s stock valued at $2,173,000 after buying an additional 1,720 shares during the period. Brookstone Capital Management lifted its holdings in shares of Enbridge by 2.2% in the 3rd quarter. Brookstone Capital Management now owns 48,791 shares of the pipeline company’s stock valued at $1,981,000 after buying an additional 1,067 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Enbridge by 13.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,539 shares of the pipeline company’s stock valued at $225,000 after buying an additional 636 shares during the period. Finally, Marcum Wealth LLC lifted its holdings in shares of Enbridge by 3.8% in the 3rd quarter. Marcum Wealth LLC now owns 20,940 shares of the pipeline company’s stock valued at $850,000 after buying an additional 761 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $44.23 on Friday. The stock has a fifty day moving average price of $43.18 and a 200 day moving average price of $41.36. The stock has a market cap of $96.34 billion, a PE ratio of 20.47, a P/E/G ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.06%. Enbridge’s dividend payout ratio is presently 121.76%.

Analyst Ratings Changes

Several research firms have recently commented on ENB. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.