Enbridge Inc. (NYSE:ENB) Shares Sold by Beacon Financial Group

Beacon Financial Group reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,559 shares of the pipeline company’s stock after selling 3,244 shares during the period. Beacon Financial Group’s holdings in Enbridge were worth $1,763,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Enbridge Trading Up 1.1 %

NYSE ENB opened at $45.29 on Wednesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $98.65 billion, a PE ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a fifty day moving average of $43.23 and a 200 day moving average of $41.54.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.92%. Enbridge’s payout ratio is 121.76%.

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.