Enbridge Inc. (NYSE:ENB) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 45.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413,486 shares of the pipeline company’s stock after selling 346,070 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $17,544,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wintrust Investments LLC raised its position in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC grew its stake in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares during the period. Capital A Wealth Management LLC purchased a new stake in Enbridge in the 4th quarter worth approximately $39,000. Hopwood Financial Services Inc. purchased a new stake in Enbridge in the 4th quarter worth approximately $42,000. Finally, Vision Financial Markets LLC purchased a new stake in Enbridge in the 4th quarter worth approximately $47,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 1.4%

Shares of NYSE ENB opened at $46.50 on Friday. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.08. The firm has a fifty day moving average of $44.93 and a 200-day moving average of $43.73. The stock has a market capitalization of $101.37 billion, a PE ratio of 27.03, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the previous year, the company earned $0.92 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. Enbridge’s payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

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.