Livingston Group Asset Management CO operating as Southport Capital Management Lowers Holdings in Enbridge Inc (NYSE:ENB)

Livingston Group Asset Management CO operating as Southport Capital Management lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,454 shares of the pipeline company’s stock after selling 2,900 shares during the quarter. Enbridge makes up about 1.0% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 24th biggest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Enbridge were worth $2,563,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Enbridge by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock worth $2,214,876,000 after acquiring an additional 1,200,391 shares in the last quarter. Salient Capital Advisors LLC raised its holdings in Enbridge by 5.2% in the second quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock worth $382,165,000 after purchasing an additional 519,679 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Enbridge by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,917,054 shares of the pipeline company’s stock worth $312,810,000 after purchasing an additional 321,281 shares in the last quarter. Zimmer Partners LP lifted its position in shares of Enbridge by 319.7% during the third quarter. Zimmer Partners LP now owns 8,327,790 shares of the pipeline company’s stock valued at $292,269,000 after buying an additional 6,343,790 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Enbridge by 25.4% during the second quarter. Bank of America Corp DE now owns 7,249,206 shares of the pipeline company’s stock valued at $261,551,000 after buying an additional 1,466,849 shares during the last quarter. 53.50% of the stock is currently owned by institutional investors.

Shares of NYSE ENB traded up $0.29 during trading on Thursday, reaching $40.49. 1,176,091 shares of the company traded hands, compared to its average volume of 2,112,286. The firm’s fifty day simple moving average is $39.11 and its 200 day simple moving average is $36.30. The stock has a market cap of $81.37 billion, a P/E ratio of 19.75, a PEG ratio of 3.16 and a beta of 0.64. Enbridge Inc has a 12-month low of $32.23 and a 12-month high of $40.43. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. The firm had revenue of $8.79 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the company earned $0.55 earnings per share. As a group, research analysts expect that Enbridge Inc will post 2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.6119 per share. This represents a $2.45 annualized dividend and a dividend yield of 6.04%. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, February 13th. Enbridge’s payout ratio is 108.78%.

A number of brokerages have recently issued reports on ENB. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Monday, January 6th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Barclays lifted their price target on Enbridge from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group raised Enbridge from a “neutral” rating to a “buy” rating and increased their price objective for the company from $50.00 to $54.00 in a report on Monday, November 25th. Finally, CIBC restated a “buy” rating and issued a $56.00 price objective on shares of Enbridge in a research note on Wednesday, December 11th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.90.

Enbridge Company Profile

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: What Does a Sell-Side Analyst Rating Mean?

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.