Investment Partners LTD. Sells 738 Shares of Enbridge Inc. (NYSE:ENB)

Investment Partners LTD. reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,989 shares of the pipeline company’s stock after selling 738 shares during the quarter. Investment Partners LTD.’s holdings in Enbridge were worth $504,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new position in Enbridge in the 4th quarter worth $25,000. Baystate Wealth Management LLC raised its holdings in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in Enbridge during the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. raised its holdings in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new stake in Enbridge during the fourth quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock traded down $0.44 during trading hours on Friday, hitting $35.82. The stock had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock’s 50-day moving average price is $35.19 and its two-hundred day moving average price is $34.80. The stock has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) 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 firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Equities analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

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 paid a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.56%. The ex-dividend date is Tuesday, May 14th. Enbridge’s payout ratio is presently 129.05%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and an average price target of $55.20.

Enbridge 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.