Western Wealth Management LLC Has $1.24 Million Holdings in Enbridge Inc. (NYSE:ENB)

Western Wealth Management LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,310 shares of the pipeline company's stock after selling 8,520 shares during the period. Western Wealth Management LLC's holdings in Enbridge were worth $1,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Norges Bank purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after acquiring an additional 9,621,425 shares in the last quarter. Blackstone Inc. lifted its position in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $180,941,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.1%

Shares of ENB traded down $0.04 during mid-day trading on Tuesday, hitting $46.02. 5,137,749 shares of the company's stock were exchanged, compared to its average volume of 4,066,751. The firm has a fifty day moving average of $44.78 and a two-hundred day moving average of $43.64. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The stock has a market cap of $100.33 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the business posted $0.92 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.90%. Enbridge's dividend payout ratio (DPR) is presently 139.69%.

Analysts Set New Price Targets

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

Enbridge Company 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.