Enbridge Inc. (NYSE:ENB) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter valued at about $29,000. Grove Bank & Trust boosted its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the 3rd quarter valued at about $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of Enbridge stock opened at $45.15 on Thursday. The stock has a market capitalization of $98.36 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a fifty day simple moving average of $43.27 and a 200-day simple moving average of $41.60. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge Cuts Dividend

The firm also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of $63.00.

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.