Enbridge Inc. (NYSE:ENB) Shares Sold by Motco

Motco trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 95.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,714 shares of the pipeline company’s stock after selling 79,561 shares during the quarter. Motco’s holdings in Enbridge were worth $158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge in the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the third quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Enbridge in the fourth quarter valued at approximately $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $42.73 on Friday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $41.98. The stock has a market capitalization of $93.11 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Analysts Set New Price Targets

ENB has been the subject of a number of research reports. Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price 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.