Diversify Advisory Services LLC Has $894,000 Position in Enbridge Inc. (NYSE:ENB)

Diversify Advisory Services LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,567 shares of the pipeline company’s stock after selling 1,740 shares during the period. Diversify Advisory Services LLC’s holdings in Enbridge were worth $894,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swiss National Bank increased its holdings in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc raised its position in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. Finally, Stonegate Investment Group LLC boosted its stake in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $44.53 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93. The business’s 50-day moving average price is $42.75 and its two-hundred day moving average price is $40.60. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for 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 previous year, the business posted $0.46 EPS. Equities analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.