Kayne Anderson Capital Advisors LP Lowers Position in Enbridge Inc. (NYSE:ENB)

Kayne Anderson Capital Advisors LP decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,269,383 shares of the pipeline company’s stock after selling 20,350 shares during the quarter. Enbridge accounts for approximately 2.5% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 13th largest holding. Kayne Anderson Capital Advisors LP owned 0.11% of Enbridge worth $81,743,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC increased its holdings in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after buying an additional 280 shares in the last quarter. North Star Investment Management Corp. raised its holdings in Enbridge by 24.6% in the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the period. Capital Investment Counsel Inc boosted its position in Enbridge by 5.2% during the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares during the period. Finally, Marino Stram & Associates LLC increased its position in shares of Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after buying an additional 344 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB traded up $0.26 during mid-day trading on Thursday, reaching $37.49. The company’s stock had a trading volume of 483,669 shares, compared to its average volume of 5,738,686. The stock has a market capitalization of $79.70 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.43 and a beta of 0.87. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.22. The stock has a 50-day moving average of $35.41 and a two-hundred day moving average of $35.02. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, equities research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.22%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 127.14%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ENB shares. Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.20.

About Enbridge

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.