Enbridge Inc. (NYSE:ENB) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 41.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,329 shares of the pipeline company’s stock after selling 86,555 shares during the quarter. Enbridge comprises approximately 3.1% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 11th biggest holding. Ausbil Investment Management Ltd’s holdings in Enbridge were worth $5,188,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Caprock Group LLC increased its position in Enbridge by 22.1% in the 4th quarter. Caprock Group LLC now owns 41,298 shares of the pipeline company’s stock valued at $1,752,000 after acquiring an additional 7,462 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Enbridge in the fourth quarter worth $52,000. Country Trust Bank increased its holdings in shares of Enbridge by 133.5% during the fourth quarter. Country Trust Bank now owns 2,438 shares of the pipeline company’s stock valued at $103,000 after purchasing an additional 1,394 shares during the period. Sonora Investment Management Group LLC raised its stake in shares of Enbridge by 7.7% during the fourth quarter. Sonora Investment Management Group LLC now owns 17,324 shares of the pipeline company’s stock valued at $735,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Boomfish Wealth Group LLC lifted its holdings in Enbridge by 0.9% in the fourth quarter. Boomfish Wealth Group LLC now owns 37,703 shares of the pipeline company’s stock worth $1,600,000 after purchasing an additional 318 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $43.29 on Friday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $94.31 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 4.11 and a beta of 0.93. The business’s 50-day moving average is $43.11 and its 200-day moving average is $41.10.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.19%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Hold” and an average price target of $63.00.

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.