Jacobi Capital Management LLC Trims Position in Enbridge Inc. (NYSE:ENB)

Jacobi Capital Management LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,702 shares of the pipeline company’s stock after selling 347 shares during the quarter. Jacobi Capital Management LLC’s holdings in Enbridge were worth $1,685,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Metis Global Partners LLC lifted its stake in shares of Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after purchasing an additional 7,986 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Enbridge during the 4th quarter worth $239,000. Sage Investment Counsel LLC acquired a new stake in shares of Enbridge during the 4th quarter worth $1,136,000. SVB Wealth LLC acquired a new stake in shares of Enbridge during the 4th quarter worth $280,000. Finally, Private Trust Co. NA increased its holdings in shares of Enbridge by 5.5% during the 4th quarter. Private Trust Co. NA now owns 9,415 shares of the pipeline company’s stock worth $399,000 after buying an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 2.4 %

Shares of NYSE ENB opened at $42.73 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $93.11 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $43.42 and a 200 day moving average price of $42.00.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. Enbridge’s dividend payout ratio is presently 155.81%.

Analyst Ratings Changes

A number of research firms have recently commented on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.00.

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.