Dynamic Advisor Solutions LLC Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Dynamic Advisor Solutions LLC cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,938 shares of the pipeline company’s stock after selling 2,563 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Enbridge were worth $2,161,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swiss National Bank raised its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc increased its position in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its holdings in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after purchasing an additional 13,515 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.5 %

Enbridge stock opened at $45.08 on Friday. The stock has a 50-day moving average price of $42.99 and a 200 day moving average price of $40.86. The company has a market capitalization of $98.19 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 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 quarterly earnings data 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 business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

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