Fullcircle Wealth LLC Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Fullcircle Wealth LLC cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,985 shares of the pipeline company’s stock after selling 1,684 shares during the period. Fullcircle Wealth LLC’s holdings in Enbridge were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. GQG Partners LLC increased its position in Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. raised its stake in Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. Deutsche Bank AG raised its stake in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Norges Bank acquired a new position in Enbridge in the 4th quarter valued at about $909,415,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ENB shares. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $46.72 on Thursday. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.08. The company’s 50 day moving average is $44.08 and its two-hundred day moving average is $43.24. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market cap of $101.85 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.64 EPS. On average, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.81%. Enbridge’s dividend payout ratio is currently 157.56%.

Enbridge 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.