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

Livingston Group Asset Management CO operating as Southport Capital Management reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,454 shares of the pipeline company’s stock after selling 2,900 shares during the period. Enbridge comprises about 1.0% of Livingston Group Asset Management CO operating as Southport Capital Management’s holdings, making the stock its 24th largest holding. 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Enbridge by 2.0% during the second quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock worth $2,214,876,000 after buying an additional 1,200,391 shares during the period. Salient Capital Advisors LLC boosted its position in shares of Enbridge by 5.2% during the second quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock worth $382,165,000 after buying an additional 519,679 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Enbridge by 3.7% during 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 buying an additional 321,281 shares during the period. Zimmer Partners LP boosted 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 worth $292,269,000 after buying an additional 6,343,790 shares during the period. Finally, Bank of America Corp DE boosted 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 worth $261,551,000 after buying an additional 1,466,849 shares during the period. Institutional investors and hedge funds own 53.50% of the company’s stock.

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

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $11.65 billion. Enbridge had a net margin of 12.07% and a return on equity of 8.31%. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.6119 dividend. The ex-dividend date 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 yield of 6.04%. Enbridge’s payout ratio is currently 108.78%.

ENB has been the subject of several research analyst reports. Bank of America initiated coverage on Enbridge in a research report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target for the company. Jefferies Financial Group began coverage on Enbridge in a research note on Thursday, December 5th. They set a “hold” rating and a $54.00 target price for the company. US Capital Advisors downgraded Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, January 7th. Royal Bank of Canada set a $56.00 price target on Enbridge and gave the company an “outperform” rating in a research report on Saturday, December 21st. Finally, UBS Group upgraded Enbridge from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $54.00 in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Enbridge has an average rating of “Hold” and an average 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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