Crossmark Global Holdings Inc. cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,458 shares of the pipeline company’s stock after selling 1,557 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Enbridge were worth $5,109,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ENB. Palladium Partners LLC purchased a new stake in Enbridge during the 4th quarter worth approximately $250,000. Novare Capital Management LLC increased its stake in Enbridge by 0.6% during the 4th quarter. Novare Capital Management LLC now owns 85,909 shares of the pipeline company’s stock worth $3,417,000 after buying an additional 500 shares in the last quarter. Meridian Investment Counsel Inc. purchased a new stake in Enbridge during the 4th quarter worth approximately $204,000. ICW Investment Advisors LLC purchased a new stake in Enbridge during the 4th quarter worth approximately $326,000. Finally, Pinnacle Financial Partners Inc. increased its stake in Enbridge by 19.6% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 19,245 shares of the pipeline company’s stock worth $766,000 after buying an additional 3,157 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

ENB stock opened at $42.02 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.50. The business has a 50 day simple moving average of $40.63 and a 200-day simple moving average of $37.03. The firm has a market capitalization of $86.21 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.82 and a beta of 0.61. Enbridge Inc has a 1 year low of $32.23 and a 1 year high of $43.15.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.6119 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.82%. Enbridge’s dividend payout ratio is 108.78%.

Several equities research analysts have commented on the company. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Wednesday. Bank of America assumed coverage on Enbridge in a research note on Wednesday, December 18th. They set a “buy” rating and a $45.00 price objective for the company. Argus assumed coverage on Enbridge in a research note on Wednesday, December 4th. They set a “buy” rating and a $44.00 price objective for the company. CIBC reiterated a “buy” rating and set a $56.00 price objective on shares of Enbridge in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on Enbridge in a research note on Thursday, December 5th. They set a “hold” rating and a $54.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and an average price target of $47.90.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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