Enbridge Inc. (NYSE:ENB) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,124 shares of the pipeline company’s stock after selling 4,947 shares during the period. PFG Investments LLC’s holdings in Enbridge were worth $896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC raised its position in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc raised its position in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $44.51 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $96.94 billion, a PE ratio of 20.60, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The business’s fifty day moving average price is $43.03 and its 200 day moving average price is $40.99.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (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 the consensus estimate 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 earned $0.46 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared 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 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analysts Forecast Growth

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