Davis Rea LTD. Has $225,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Davis Rea LTD. reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 45.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,302 shares of the pipeline company’s stock after selling 4,452 shares during the period. Enbridge accounts for about 0.1% of Davis Rea LTD.’s portfolio, making the stock its 28th largest position. Davis Rea LTD.’s holdings in Enbridge were worth $225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Private Trust Co. NA lifted its stake in Enbridge by 5.5% during the fourth quarter. Private Trust Co. NA now owns 9,415 shares of the pipeline company’s stock worth $399,000 after purchasing an additional 488 shares during the period. Argyle Capital Management LLC raised its holdings in shares of Enbridge by 1.4% in the 4th quarter. Argyle Capital Management LLC now owns 79,341 shares of the pipeline company’s stock worth $3,366,000 after buying an additional 1,133 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $319,000. Versor Investments LP lifted its position in shares of Enbridge by 96.8% during the 4th quarter. Versor Investments LP now owns 18,102 shares of the pipeline company’s stock worth $768,000 after buying an additional 8,902 shares during the period. Finally, First Command Advisory Services Inc. boosted its stake in Enbridge by 4,864.0% in the 4th quarter. First Command Advisory Services Inc. now owns 1,241 shares of the pipeline company’s stock valued at $53,000 after buying an additional 1,216 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.0 %

ENB opened at $41.74 on Friday. The firm’s fifty day moving average is $43.40 and its two-hundred day moving average is $41.95. The firm has a market cap of $90.94 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENB. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.00.

About Enbridge

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.