Bailard Inc. Sells 422 Shares of Enbridge Inc. (NYSE:ENB)

Bailard Inc. lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,488 shares of the pipeline company’s stock after selling 422 shares during the period. Bailard Inc.’s holdings in Enbridge were worth $774,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge in the fourth quarter worth approximately $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge in the fourth quarter worth approximately $28,000. Financial Gravity Asset Management Inc. lifted its stake in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Enbridge in the fourth quarter worth approximately $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 1.2 %

ENB opened at $35.82 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a market capitalization of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. The firm’s 50 day simple moving average is $35.19 and its two-hundred day simple moving average is $34.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, equities analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. Enbridge’s dividend payout ratio is 129.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.20.

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.