Goelzer Investment Management Inc. Has $8.95 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Goelzer Investment Management Inc. cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,866 shares of the pipeline company’s stock after selling 5,941 shares during the period. Goelzer Investment Management Inc.’s holdings in Enbridge were worth $8,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Enbridge by 4,120.0% in 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 purchasing an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after buying an additional 2,668,692 shares during the last quarter. National Bank of Canada FI raised its position 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 valued at $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.5 %

ENB stock opened at $45.08 on Friday. The stock has a fifty day moving average of $42.93 and a 200-day moving average of $40.79. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a market capitalization of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.00.

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.