Atria Wealth Solutions Inc. Sells 27,549 Shares of Enbridge Inc. (NYSE:ENB)

Atria Wealth Solutions Inc. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 146,322 shares of the pipeline company’s stock after selling 27,549 shares during the period. Atria Wealth Solutions Inc.’s holdings in Enbridge were worth $5,284,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the last quarter. TD Asset Management Inc boosted its holdings in Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after acquiring an additional 664,057 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after acquiring an additional 1,353,753 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after buying an additional 2,756,079 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.2 %

NYSE ENB opened at $35.82 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm has a market cap of $76.15 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The stock’s 50-day moving average is $35.19 and its 200-day moving average is $34.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Sell-side analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is presently 129.05%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.20.

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.