Virtu Financial LLC Decreases Holdings in Enbridge Inc. (NYSE:ENB)

Virtu Financial LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 82.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,468 shares of the pipeline company’s stock after selling 72,759 shares during the period. Virtu Financial LLC’s holdings in Enbridge were worth $557,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in Enbridge during the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. grew its position in Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in Enbridge during the 4th quarter worth approximately $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $34.86 on Tuesday. The firm has a market cap of $74.10 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.29 and a beta of 0.90. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The business’s 50 day moving average price is $35.85 and its 200-day moving average price is $35.63. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. On average, equities research analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.77%. Enbridge’s payout ratio is currently 136.04%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.20.

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.