Delta Asset Management LLC TN Sells 835 Shares of Enbridge Inc. (NYSE:ENB)

Delta Asset Management LLC TN lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 506,764 shares of the pipeline company’s stock after selling 835 shares during the quarter. Enbridge comprises 1.7% of Delta Asset Management LLC TN’s portfolio, making the stock its 19th largest holding. Delta Asset Management LLC TN’s holdings in Enbridge were worth $18,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new position in Enbridge during the 4th quarter worth $25,000. Baystate Wealth Management LLC lifted its position in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enbridge during the 4th quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. grew its holdings in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in Enbridge in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Shares of ENB stock traded down $0.17 during trading hours on Wednesday, hitting $36.61. 6,504,235 shares of the company’s stock were exchanged, compared to its average volume of 5,961,895. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The stock has a market cap of $77.83 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock’s 50-day moving average is $35.80 and its 200-day moving average is $35.35.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.40%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 136.04%.

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.