Goelzer Investment Management Inc. Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Goelzer Investment Management Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,807 shares of the pipeline company’s stock after selling 2,533 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Enbridge were worth $8,805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mosley Wealth Management purchased a new stake in Enbridge in the fourth quarter worth about $442,000. XML Financial LLC lifted its stake in shares of Enbridge by 5.0% in the 4th quarter. XML Financial LLC now owns 17,401 shares of the pipeline company’s stock valued at $627,000 after purchasing an additional 827 shares during the period. Regal Investment Advisors LLC boosted its position in shares of Enbridge by 25.1% during the fourth quarter. Regal Investment Advisors LLC now owns 13,223 shares of the pipeline company’s stock valued at $476,000 after purchasing an additional 2,650 shares in the last quarter. MGO One Seven LLC grew its stake in Enbridge by 52.7% in the fourth quarter. MGO One Seven LLC now owns 45,164 shares of the pipeline company’s stock worth $1,627,000 after purchasing an additional 15,579 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in Enbridge in the fourth quarter worth $538,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $51.50.

Enbridge Stock Up 0.8 %

Shares of Enbridge stock traded up $0.33 during midday trading on Friday, hitting $41.08. The company had a trading volume of 2,297,430 shares, compared to its average volume of 5,090,926. Enbridge Inc. has a 52-week low of $31.17 and a 52-week high of $41.35. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $87.66 billion, a P/E ratio of 20.85, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a 50 day moving average of $39.70 and a 200 day moving average of $37.15.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.51%. Enbridge’s dividend payout ratio is presently 134.01%.

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.