Enbridge Inc. (NYSE:ENB) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,042 shares of the pipeline company’s stock after selling 503 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Enbridge were worth $553,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Enbridge by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock valued at $86,399,000 after purchasing an additional 25,717 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Enbridge by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock worth $489,000 after acquiring an additional 861 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Enbridge by 4.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 1,766 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Enbridge by 7.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company’s stock valued at $5,054,000 after purchasing an additional 9,200 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Enbridge by 185.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 297,230 shares of the pipeline company’s stock worth $10,576,000 after buying an additional 192,975 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $44.87 on Friday. The stock has a market capitalization of $97.73 billion, a P/E ratio of 20.77, a PEG ratio of 4.20 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a 50 day moving average price of $42.89 and a 200 day moving average price of $40.76.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates 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 earned $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.97%. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.