Wealth Enhancement Advisory Services LLC Sells 346,070 Shares of Enbridge Inc. (NYSE:ENB)

Wealth Enhancement Advisory Services LLC trimmed its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 45.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,486 shares of the pipeline company's stock after selling 346,070 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Enbridge were worth $17,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Wintrust Investments LLC lifted its stake in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. KPP Advisory Services LLC increased its holdings in shares of Enbridge by 4.2% in the fourth quarter. KPP Advisory Services LLC now owns 5,970 shares of the pipeline company's stock valued at $253,000 after buying an additional 242 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Enbridge by 2.0% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company's stock valued at $541,000 after acquiring an additional 251 shares during the last quarter. Knuff & Co LLC boosted its stake in shares of Enbridge by 12.6% during the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after acquiring an additional 252 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. grew its holdings in shares of Enbridge by 0.7% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 35,926 shares of the pipeline company's stock worth $1,524,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.3%

Shares of NYSE ENB traded down $0.12 during mid-day trading on Wednesday, reaching $46.95. The company had a trading volume of 1,099,813 shares, compared to its average volume of 4,042,512. The stock has a fifty day moving average of $45.03 and a two-hundred day moving average of $43.80. The company has a market capitalization of $102.35 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the firm earned $0.92 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.79%. Enbridge's dividend payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENB shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating for the company. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $67.00.

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.