Enbridge Inc. (NYSE:ENB) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,144 shares of the pipeline company’s stock after selling 1,664 shares during the quarter. Wrapmanager Inc.’s holdings in Enbridge were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC increased its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT bought a new stake in Enbridge in the 4th quarter valued at about $29,000. Fortitude Family Office LLC acquired a new position in Enbridge during the 3rd quarter valued at about $35,000. Darwin Wealth Management LLC bought a new position in Enbridge in the 3rd quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $41.52 on Tuesday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a market capitalization of $90.47 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $41.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share 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 earnings per share. Research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.46%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 155.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.00.

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.