Enbridge Inc. (NYSE:ENB) Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,983 shares of the pipeline company’s stock after selling 1,458 shares during the period. Enbridge comprises about 1.9% of Advisors Management Group Inc. ADV’s holdings, making the stock its 16th biggest position. Advisors Management Group Inc. ADV’s holdings in Enbridge were worth $8,019,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ENB shares. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a report on Wednesday. They set a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 0.7 %

Shares of NYSE ENB opened at $44.36 on Thursday. The firm has a market cap of $96.63 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.74. The firm’s 50 day moving average price is $42.62 and its 200 day moving average price is $40.42.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 124.07%.

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.