Enbridge Inc. (NYSE:ENB) Shares Sold by Park Place Capital Corp

Park Place Capital Corp reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% in the 4th quarter, HoldingsChannel reports. The fund owned 12,902 shares of the pipeline company’s stock after selling 1,531 shares during the quarter. Park Place Capital Corp’s holdings in Enbridge were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter valued at approximately $28,000. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the 4th quarter valued at $29,000. Grove Bank & Trust raised its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $45.10 on Wednesday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a market capitalization of $98.25 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $42.85 and a two-hundred day moving average price of $40.73.

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 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 return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm posted $0.46 EPS. As a group, research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company 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 annualized dividend and a yield of 5.94%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

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