Enbridge Inc. (NYSE:ENB) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC lowered its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 7.6% in the fourth quarter, HoldingsChannel reports. The firm owned 8,629 shares of the pipeline company’s stock after selling 709 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Enbridge were worth $311,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Enbridge by 98.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares during the period. S.E.E.D. Planning Group LLC raised its position in Enbridge by 81.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares in the last quarter. Clarius Group LLC boosted its stake in shares of Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares during the period. Private Trust Co. NA grew its position in shares of Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after buying an additional 473 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on ENB

Enbridge Price Performance

Enbridge stock opened at $36.99 on Thursday. The company has a market capitalization of $78.64 billion, a P/E ratio of 18.78, a PEG ratio of 3.58 and a beta of 0.87. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.62. The stock has a 50-day simple moving average of $35.70 and a 200-day simple moving average of $35.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.68.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.32%. Enbridge’s dividend payout ratio (DPR) is 138.07%.

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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