Cornell Pochily Investment Advisors Inc. Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Cornell Pochily Investment Advisors Inc. lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,873 shares of the pipeline company’s stock after selling 1,150 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Enbridge were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ENB. Thrivent Financial for Lutherans boosted its position in shares of Enbridge by 4.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 1,766 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Enbridge by 248.0% in the second quarter. Squarepoint Ops LLC now owns 53,573 shares of the pipeline company’s stock worth $1,907,000 after acquiring an additional 89,773 shares in the last quarter. AXA S.A. grew its stake in shares of Enbridge by 5.9% during the second quarter. AXA S.A. now owns 93,650 shares of the pipeline company’s stock worth $3,333,000 after acquiring an additional 5,226 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Enbridge during the second quarter valued at about $303,000. Finally, Lighthouse Investment Partners LLC raised its position in shares of Enbridge by 21.4% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 6,952 shares of the pipeline company’s stock valued at $247,000 after purchasing an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $45.08 on Monday. The firm’s fifty day moving average is $42.99 and its two-hundred day moving average is $40.93. The firm has a market cap of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Research analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.