Chickasaw Capital Management LLC Has $7.09 Million Position in Enbridge Inc. (NYSE:ENB)

Chickasaw Capital Management LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,064 shares of the pipeline company’s stock after selling 3,817 shares during the period. Enbridge accounts for approximately 0.3% of Chickasaw Capital Management LLC’s holdings, making the stock its 25th largest position. Chickasaw Capital Management LLC’s holdings in Enbridge were worth $7,089,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the second quarter worth $28,000. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Grove Bank & Trust lifted its stake in Enbridge by 56.7% in 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 last quarter. MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge in the third quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ENB. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Shares of ENB traded up $0.63 during trading hours on Tuesday, hitting $43.62. 1,731,579 shares of the company were exchanged, compared to its average volume of 2,536,841. The company has a market cap of $95.02 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 4.14 and a beta of 0.93. The firm’s fifty day moving average is $42.24 and its 200 day moving average is $40.06. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.14%. Enbridge’s dividend payout ratio is currently 124.07%.

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.