Tandem Capital Management Corp ADV Lowers Position in Enbridge Inc. (NYSE:ENB)

Tandem Capital Management Corp ADV lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,453 shares of the pipeline company’s stock after selling 345 shares during the period. Tandem Capital Management Corp ADV’s holdings in Enbridge were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Columbus Macro LLC boosted its holdings in Enbridge by 532.7% during the fourth quarter. Columbus Macro LLC now owns 275,629 shares of the pipeline company’s stock worth $11,694,000 after buying an additional 232,064 shares in the last quarter. Dupree Financial Group LLC lifted its holdings in shares of Enbridge by 0.9% in the fourth quarter. Dupree Financial Group LLC now owns 504,381 shares of the pipeline company’s stock valued at $21,401,000 after purchasing an additional 4,663 shares in the last quarter. Holistic Planning LLC lifted its holdings in shares of Enbridge by 4.3% in the fourth quarter. Holistic Planning LLC now owns 13,145 shares of the pipeline company’s stock valued at $558,000 after purchasing an additional 547 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Enbridge by 76.7% in the fourth quarter. Jennison Associates LLC now owns 999,358 shares of the pipeline company’s stock valued at $42,397,000 after purchasing an additional 433,901 shares in the last quarter. Finally, KPP Advisory Services LLC lifted its holdings in shares of Enbridge by 4.2% in the fourth quarter. KPP Advisory Services LLC now owns 5,970 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $42.94 on Tuesday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a 50 day moving average price of $43.11 and a 200 day moving average price of $41.22. The firm has a market capitalization of $93.54 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS 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 firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

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 given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.00.

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.