Tower Research Capital LLC TRC Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Tower Research Capital LLC TRC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 72.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,184 shares of the pipeline company's stock after selling 15,939 shares during the period. Tower Research Capital LLC TRC's holdings in Enbridge were worth $262,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Albion Financial Group UT purchased a new position in Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC increased its holdings in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares during the period. Dixon Mitchell Investment Counsel Inc. lifted its stake in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after purchasing an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new stake in Enbridge in the fourth quarter valued at $42,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB stock traded down $0.38 on Tuesday, hitting $46.21. The company had a trading volume of 2,821,181 shares, compared to its average volume of 4,166,917. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $100.74 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 3.92 and a beta of 0.84. The stock's 50-day simple moving average is $43.92 and its 200 day simple moving average is $43.19. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for 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 prior year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.88%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is currently 157.56%.

Wall Street Analyst Weigh In

ENB has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" 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.