Outfitter Financial LLC Lowers Stock Holdings in Enbridge Inc. (NYSE:ENB)

Outfitter Financial LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,943 shares of the pipeline company’s stock after selling 1,100 shares during the period. Outfitter Financial LLC’s holdings in Enbridge were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ENB. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge during the 4th quarter worth $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. boosted its stake in Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $34,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

ENB stock traded up $0.49 during midday trading on Friday, hitting $37.85. 2,600,747 shares of the company traded hands, compared to its average volume of 5,753,111. 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 business has a 50 day simple moving average of $35.53 and a 200-day simple moving average of $35.05. The stock has a market capitalization of $80.47 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $39.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 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%. As a group, equities research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 127.14%.

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.