Baskin Financial Services Inc. Sells 881 Shares of Enbridge Inc. (NYSE:ENB)

Baskin Financial Services Inc. trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,961 shares of the pipeline company’s stock after selling 881 shares during the quarter. Baskin Financial Services Inc.’s holdings in Enbridge were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ENB. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the fourth quarter worth $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge in the 3rd quarter worth about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $43.29 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $94.31 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The firm’s 50 day moving average price is $43.11 and its 200-day moving average price is $41.19. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities research analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. Enbridge’s payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.