Enbridge Inc. (NYSE:ENB) Position Lowered by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 85,987 shares of the pipeline company’s stock after selling 22,881 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Enbridge were worth $3,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in shares of Enbridge during the fourth quarter worth $29,000. Bourne Lent Asset Management Inc. raised its stake in Enbridge by 21.8% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 83,349 shares of the pipeline company’s stock worth $3,536,000 after acquiring an additional 14,910 shares during the period. XML Financial LLC lifted its holdings in Enbridge by 1.9% in the fourth quarter. XML Financial LLC now owns 16,451 shares of the pipeline company’s stock worth $698,000 after acquiring an additional 306 shares during the last quarter. Genesis Private Wealth LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $317,000. Finally, Atomi Financial Group Inc. grew its holdings in shares of Enbridge by 10.7% during the fourth quarter. Atomi Financial Group Inc. now owns 28,601 shares of the pipeline company’s stock valued at $1,214,000 after purchasing an additional 2,776 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $44.87 on Friday. The stock has a market cap of $97.73 billion, a P/E ratio of 20.77, a P/E/G ratio of 4.20 and a beta of 0.93. The firm’s 50-day simple moving average is $42.89 and its 200 day simple moving average is $40.76. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the company earned $0.46 EPS. Equities analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.97%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ENB. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.

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.