Enbridge Inc. (NYSE:ENB) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 49,293 shares of the pipeline company’s stock after selling 4,520 shares during the period. Meyer Handelman Co.’s holdings in Enbridge were worth $2,091,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the third quarter worth about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $44.04 on Wednesday. The stock has a market cap of $95.93 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a fifty day simple moving average of $42.62 and a 200-day simple moving average of $40.42. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. Equities analysts expect that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.09%. Enbridge’s payout ratio is currently 124.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENB shares. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. TD Securities began coverage on Enbridge in a research report on Wednesday. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada restated 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. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

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.