Duff & Phelps Investment Management Co. Sells 213,342 Shares of Enbridge Inc. (NYSE:ENB)

Duff & Phelps Investment Management Co. cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,684,929 shares of the pipeline company’s stock after selling 213,342 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Enbridge were worth $60,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Enbridge by 98.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares in the last quarter. Clarius Group LLC grew its stake in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,617 shares during the last quarter. S.E.E.D. Planning Group LLC increased its holdings in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock worth $8,272,000 after buying an additional 102,850 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Enbridge by 5.7% in the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 473 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Trading Down 1.1 %

Enbridge stock traded down $0.39 during trading hours on Tuesday, reaching $35.57. 2,566,516 shares of the company’s stock were exchanged, compared to its average volume of 5,771,094. The firm’s 50 day simple moving average is $35.22 and its 200 day simple moving average is $34.85. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $75.62 billion, a PE ratio of 17.13, a PEG ratio of 3.39 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for 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%. Research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.61%. The ex-dividend date is Tuesday, May 14th. Enbridge’s payout ratio is 129.05%.

Enbridge Company 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.