Enbridge Inc. (NYSE:ENB) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 46,043 shares of the pipeline company’s stock after selling 3,200 shares during the quarter. Enbridge makes up approximately 1.6% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 24th largest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Enbridge were worth $1,953,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter worth about $28,000. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Grove Bank & Trust boosted its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter valued at $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 1.5 %

NYSE ENB traded down $0.66 on Friday, reaching $43.36. The stock had a trading volume of 1,196,966 shares, compared to its average volume of 2,504,776. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13. The business has a 50 day moving average price of $42.45 and a 200 day moving average price of $40.17. 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 $94.45 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $0.46 earnings per share. On average, analysts forecast that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued 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. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.00.

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.