Vaughan David Investments LLC IL Has $1.61 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Vaughan David Investments LLC IL decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,948 shares of the pipeline company’s stock after selling 5,752 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Enbridge were worth $1,610,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENB. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter valued at $29,000. Fortitude Family Office LLC bought a new position in shares of Enbridge in the 3rd quarter valued at about $35,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge during the 3rd quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $41.65 on Wednesday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a market capitalization of $90.75 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.92 and a beta of 0.94. The company has a 50-day simple moving average of $43.35 and a 200 day simple moving average of $41.96. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.44%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENB. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised 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 given a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $67.00.

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.