Moloney Securities Asset Management LLC Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Moloney Securities Asset Management LLC decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,972 shares of the pipeline company’s stock after selling 472 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Enbridge were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after buying an additional 2,668,692 shares during the period. National Bank of Canada FI raised its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its stake in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.8 %

Shares of Enbridge stock opened at $44.80 on Tuesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm has a market cap of $97.60 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.08 and a beta of 0.94. The company has a 50-day moving average of $43.20 and a 200 day moving average of $41.48. 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 Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.98%. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

ENB has been the subject of several research reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment 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 presently has a consensus rating of “Hold” and a consensus target price 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.