Louisbourg Investments Inc. Lowers Stake in Enbridge Inc. (NYSE:ENB)

Louisbourg Investments Inc. cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,061 shares of the pipeline company’s stock after selling 300 shares during the quarter. Louisbourg Investments Inc.’s holdings in Enbridge were worth $681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. apricus wealth LLC boosted its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after acquiring an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after buying an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.1 %

NYSE ENB opened at $45.29 on Wednesday. The company’s fifty day simple moving average is $43.27 and its 200-day simple moving average is $41.60. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. 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 stock has a market cap of $98.65 billion, a P/E ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.92%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.