Enbridge Inc. (NYSE:ENB) Stock Holdings Lessened by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 547,203 shares of the pipeline company’s stock after selling 12,271 shares during the period. Van ECK Associates Corp’s holdings in Enbridge were worth $19,773,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Harbor Investment Advisory LLC boosted its stake in Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. grew its stake in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares in the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its position in Enbridge by 1.6% during the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

NYSE ENB opened at $35.60 on Thursday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The stock’s 50-day moving average is $35.26 and its two-hundred day moving average is $34.88. The firm has a market cap of $75.67 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 129.05%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.20.

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.