New Hampshire Trust Reduces Position in Enbridge Inc. (NYSE:ENB)

New Hampshire Trust reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,345 shares of the pipeline company’s stock after selling 745 shares during the quarter. New Hampshire Trust’s holdings in Enbridge were worth $566,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FLC Capital Advisors lifted its holdings in Enbridge by 5.7% in the 4th quarter. FLC Capital Advisors now owns 102,078 shares of the pipeline company’s stock valued at $4,331,000 after purchasing an additional 5,484 shares in the last quarter. Stokes Capital Advisors LLC raised its position in shares of Enbridge by 1.8% in the fourth quarter. Stokes Capital Advisors LLC now owns 105,781 shares of the pipeline company’s stock valued at $4,488,000 after buying an additional 1,920 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Enbridge by 18.5% during the fourth quarter. Diversify Wealth Management LLC now owns 36,238 shares of the pipeline company’s stock valued at $1,576,000 after buying an additional 5,655 shares during the period. Gilman Hill Asset Management LLC acquired a new stake in Enbridge during the fourth quarter worth approximately $249,000. Finally, Client 1ST Advisory Group LLC purchased a new stake in Enbridge in the 4th quarter worth approximately $276,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.1 %

Shares of ENB opened at $44.53 on Tuesday. The stock’s fifty day simple moving average is $42.75 and its 200 day simple moving average is $40.60. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.90. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $97.00 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $0.46 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.