Nexus Investment Management ULC Sells 29,425 Shares of Enbridge Inc. (NYSE:ENB)

Nexus Investment Management ULC trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 687,192 shares of the pipeline company’s stock after selling 29,425 shares during the quarter. Enbridge accounts for about 2.9% of Nexus Investment Management ULC’s holdings, making the stock its 16th largest position. Nexus Investment Management ULC’s holdings in Enbridge were worth $29,101,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased 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 valued at $194,938,000 after buying an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC grew its stake in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 27.8% during the 3rd 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 lifted its stake in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing 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 3rd 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. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Trading Up 1.1 %

Shares of ENB stock opened at $44.53 on Friday. The business has a 50-day moving average price of $42.75 and a two-hundred day moving average price of $40.54. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.90. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $97.00 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

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.