Valmark Advisers Inc. Has $212,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Valmark Advisers Inc. cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,882 shares of the pipeline company’s stock after selling 1,240 shares during the period. Valmark Advisers Inc.’s holdings in Enbridge were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Enbridge by 36.9% during the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after purchasing an additional 2,814,200 shares during the last quarter. Mackenzie Financial Corp grew its stake in Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after purchasing an additional 2,756,079 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Enbridge by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after purchasing an additional 2,101,021 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENB shares. Stifel Nicolaus began coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $35.97 on Tuesday. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company’s 50 day moving average price is $35.22 and its two-hundred day moving average price is $34.85. The firm has a market cap of $76.46 billion, a PE ratio of 17.13, a PEG ratio of 3.39 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is 129.05%.

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.