Valmark Advisers Inc. Sells 1,240 Shares of Enbridge Inc. (NYSE:ENB)

Valmark Advisers Inc. decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,882 shares of the pipeline company’s stock after selling 1,240 shares during the quarter. Valmark Advisers Inc.’s holdings in Enbridge were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Headlands Technologies LLC increased its stake in Enbridge by 97.3% in the 4th quarter. Headlands Technologies LLC now owns 3,190 shares of the pipeline company’s stock valued at $115,000 after purchasing an additional 1,573 shares in the last quarter. Kovack Advisors Inc. boosted its position in Enbridge by 12.5% in the 4th quarter. Kovack Advisors Inc. now owns 19,593 shares of the pipeline company’s stock valued at $706,000 after buying an additional 2,171 shares during the last quarter. K.J. Harrison & Partners Inc raised its position in shares of Enbridge by 90.3% in the 4th quarter. K.J. Harrison & Partners Inc now owns 95,251 shares of the pipeline company’s stock valued at $3,435,000 after purchasing an additional 45,200 shares in the last quarter. Stevens Capital Management LP acquired a new position in Enbridge during the 4th quarter worth $438,000. Finally, Syon Capital LLC acquired a new position in Enbridge in the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

NYSE:ENB opened at $35.97 on Tuesday. The stock has a 50 day simple moving average of $35.22 and a 200 day simple moving average of $34.85. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The stock has a market cap of $76.46 billion, a P/E ratio of 17.13, a PEG ratio of 3.39 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. Research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.53%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 129.05%.

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.