International Assets Investment Management LLC Sells 793,383 Shares of Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 89.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 98,020 shares of the pipeline company’s stock after selling 793,383 shares during the period. International Assets Investment Management LLC’s holdings in Enbridge were worth $4,159,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC raised its stake in Enbridge by 2.1% during the 2nd quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock valued at $3,687,000 after purchasing an additional 2,145 shares during the period. Candriam S.C.A. raised its position in shares of Enbridge by 45.0% during the second quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock valued at $409,000 after buying an additional 3,570 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Enbridge by 17.8% in the second quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock worth $759,000 after buying an additional 3,218 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Enbridge by 2,564.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock valued at $95,000 after acquiring an additional 256,148 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Enbridge by 622.1% during the 2nd quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock valued at $8,139,000 after buying an additional 197,089 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.2 %

Shares of NYSE ENB traded up $0.08 during trading hours on Wednesday, hitting $43.72. 379,930 shares of the stock were exchanged, compared to its average volume of 2,284,511. The company has a market cap of $95.23 billion, a PE ratio of 20.24, a PEG ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. 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 fifty day moving average price of $42.30 and a 200-day moving average price of $40.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.03 EPS for the current 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 $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENB shares. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price 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.