Herbst Group LLC Sells 1,500 Shares of Enbridge Inc. (NYSE:ENB)

Herbst Group LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,000 shares of the pipeline company’s stock after selling 1,500 shares during the quarter. Herbst Group LLC’s holdings in Enbridge were worth $679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its holdings in Enbridge by 90.1% during the 4th quarter. HB Wealth Management LLC now owns 13,933 shares of the pipeline company’s stock worth $591,000 after buying an additional 6,603 shares in the last quarter. Galibier Capital Management Ltd. lifted its stake in shares of Enbridge by 26.0% during the fourth quarter. Galibier Capital Management Ltd. now owns 809,045 shares of the pipeline company’s stock valued at $34,320,000 after acquiring an additional 167,181 shares during the period. Verity & Verity LLC boosted its holdings in Enbridge by 8.4% in the fourth quarter. Verity & Verity LLC now owns 537,672 shares of the pipeline company’s stock valued at $22,813,000 after acquiring an additional 41,609 shares during the last quarter. Arkadios Wealth Advisors increased its position in Enbridge by 4.8% in the fourth quarter. Arkadios Wealth Advisors now owns 10,529 shares of the pipeline company’s stock worth $447,000 after purchasing an additional 483 shares during the period. Finally, O Keefe Stevens Advisory Inc. raised its holdings in Enbridge by 40.0% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 21,230 shares of the pipeline company’s stock worth $901,000 after purchasing an additional 6,064 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ENB. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday. They set a “buy” rating for the company. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $44.53 on Friday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.90. The company has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. The company has a 50-day simple moving average of $42.75 and a 200 day simple moving average of $40.54. 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 (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, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio is presently 121.76%.

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.