Montrusco Bolton Investments Inc. Decreases Holdings in Enbridge Inc. (NYSE:ENB)

Montrusco Bolton Investments Inc. lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 886,273 shares of the pipeline company’s stock after selling 83,061 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Enbridge were worth $37,597,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares in the last quarter. National Bank of Canada FI raised its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. raised its stake in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after acquiring an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Enbridge by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $44.51 on Wednesday. The stock has a market capitalization of $96.94 billion, a PE ratio of 20.60, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The business has a 50 day simple moving average of $43.06 and a two-hundred day simple moving average of $41.05. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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 net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, research analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities began coverage on shares of Enbridge in a 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 report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Enbridge has an average 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.