Accurate Wealth Management LLC Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Accurate Wealth Management LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,059 shares of the pipeline company’s stock after selling 561 shares during the period. Accurate Wealth Management LLC’s holdings in Enbridge were worth $911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% during the fourth 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% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in Enbridge in the fourth quarter valued at approximately $39,000. Hopwood Financial Services Inc. purchased a new stake in Enbridge in the fourth quarter valued at approximately $42,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Enbridge during the fourth quarter worth approximately $47,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENB has been the subject of several research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Up 0.0%

Shares of NYSE:ENB opened at $45.83 on Wednesday. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.44. 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’s 50-day simple moving average is $45.19 and its 200-day simple moving average is $43.91. The company has a market cap of $99.92 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.92 and a beta of 0.81.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.93%. Enbridge’s dividend payout ratio is presently 139.69%.

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.