ERTS Wealth Advisors LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

ERTS Wealth Advisors LLC decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,086 shares of the pipeline company’s stock after selling 1,616 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Enbridge were worth $810,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after acquiring an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC boosted its position in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI increased its position in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after buying an additional 1,472,789 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.9 %

ENB stock opened at $45.35 on Wednesday. The company has a 50 day moving average price of $42.85 and a two-hundred day moving average price of $40.73. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $98.79 billion, a P/E ratio of 21.00, a PEG ratio of 4.13 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.91%. Enbridge’s payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

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

About Enbridge

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.