Western Wealth Management LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,310 shares of the pipeline company's stock after selling 8,520 shares during the quarter. Western Wealth Management LLC's holdings in Enbridge were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Sunbelt Securities Inc. increased its holdings in shares of Enbridge by 3.6% in the 4th quarter. Sunbelt Securities Inc. now owns 24,430 shares of the pipeline company's stock worth $1,029,000 after purchasing an additional 854 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $119,000. Burgundy Asset Management Ltd. raised its holdings in shares of Enbridge by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 171,960 shares of the pipeline company's stock valued at $7,291,000 after purchasing an additional 6,101 shares during the last quarter. Vise Technologies Inc. grew its holdings in shares of Enbridge by 44.5% in the fourth quarter. Vise Technologies Inc. now owns 22,986 shares of the pipeline company's stock worth $975,000 after acquiring an additional 7,077 shares during the period. Finally, Pettinga Financial Advisors LLC purchased a new stake in Enbridge during the fourth quarter valued at approximately $218,000. 54.60% of the stock is owned by institutional investors.
Enbridge Trading Down 0.4%
ENB stock traded down $0.21 during trading on Wednesday, hitting $45.84. The company had a trading volume of 1,449,187 shares, compared to its average volume of 4,056,627. The firm has a market capitalization of $99.92 billion, a P/E ratio of 26.64, a PEG 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 Inc. has a 52-week low of $34.60 and a 52-week high of $47.08. The company has a 50 day simple moving average of $44.82 and a 200-day simple moving average of $43.66.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 5.93%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 139.69%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ENB. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Raymond James raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $67.00.
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About Enbridge
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Free Report)
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.
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