Founders Financial Alliance LLC Reduces Position in Enbridge Inc. (NYSE:ENB)

Founders Financial Alliance LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,860 shares of the pipeline company’s stock after selling 1,381 shares during the period. Founders Financial Alliance LLC’s holdings in Enbridge were worth $463,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Harbor Investment Advisory LLC boosted its holdings in shares of Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares during the period. Capital Investment Counsel Inc boosted its holdings in shares of Enbridge by 5.2% in the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the period. Azimuth Capital Investment Management LLC boosted its holdings in shares of Enbridge by 2.3% in the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 350 shares during the period. Finally, River Street Advisors LLC boosted its holdings in shares of Enbridge by 1.8% in the fourth quarter. River Street Advisors LLC now owns 21,349 shares of the pipeline company’s stock valued at $769,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 0.8 %

NYSE:ENB traded up $0.27 during trading hours on Friday, reaching $36.24. The company’s stock had a trading volume of 3,053,397 shares, compared to its average volume of 6,709,797. The company has a market capitalization of $77.04 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 3.40 and a beta of 0.86. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The stock has a 50 day moving average price of $35.83 and a two-hundred day moving average price of $35.39.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.47%. Enbridge’s payout ratio is 136.04%.

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.