Ingalls & Snyder LLC Sells 236 Shares of Enbridge Inc. (NYSE:ENB)

Ingalls & Snyder LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 104,508 shares of the pipeline company’s stock after selling 236 shares during the period. Ingalls & Snyder LLC’s holdings in Enbridge were worth $4,434,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. MFG Wealth Management Inc. acquired a new stake in Enbridge during the 4th quarter worth approximately $2,140,000. Naples Global Advisors LLC grew its stake in shares of Enbridge by 15.1% during the 4th quarter. Naples Global Advisors LLC now owns 19,137 shares of the pipeline company’s stock worth $812,000 after acquiring an additional 2,509 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Enbridge by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 716,472 shares of the pipeline company’s stock worth $30,392,000 after acquiring an additional 67,259 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of Enbridge by 6.6% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 8,842 shares of the pipeline company’s stock worth $375,000 after acquiring an additional 545 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in shares of Enbridge during the 4th quarter worth approximately $3,335,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Stock Down 0.2 %

ENB opened at $45.15 on Thursday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week 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 market capitalization of $98.36 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.08 and a beta of 0.94. The stock has a fifty day moving average of $43.27 and a 200-day moving average of $41.60.

Enbridge Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.94%. Enbridge’s dividend 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.