Enbridge Inc. (NYSE:ENB) Stock Holdings Cut by Spire Wealth Management

Spire Wealth Management lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,867 shares of the pipeline company’s stock after selling 290 shares during the period. Spire Wealth Management’s holdings in Enbridge were worth $931,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Metis Global Partners LLC raised its position in shares of Enbridge by 8.9% during the fourth quarter. Metis Global Partners LLC now owns 171,363 shares of the pipeline company’s stock worth $6,169,000 after purchasing an additional 14,038 shares during the period. Sheets Smith Wealth Management lifted its stake in Enbridge by 4.7% during the fourth quarter. Sheets Smith Wealth Management now owns 10,657 shares of the pipeline company’s stock valued at $384,000 after buying an additional 475 shares in the last quarter. Evergreen Wealth Management LLC boosted its holdings in shares of Enbridge by 1.9% in the fourth quarter. Evergreen Wealth Management LLC now owns 22,513 shares of the pipeline company’s stock worth $811,000 after buying an additional 419 shares during the period. National Bank of Canada FI increased its position in shares of Enbridge by 7.0% in the fourth quarter. National Bank of Canada FI now owns 19,461,625 shares of the pipeline company’s stock worth $706,471,000 after acquiring an additional 1,272,213 shares in the last quarter. Finally, Pointe Capital Management LLC acquired a new stake in shares of Enbridge during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ENB shares. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Up 1.1 %

ENB stock opened at $37.24 on Thursday. The firm has a market cap of $79.17 billion, a PE ratio of 17.73, a PEG ratio of 3.43 and a beta of 0.87. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.22. The company has a fifty day simple moving average of $35.41 and a 200 day simple moving average of $35.02. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Sell-side analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.27%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s payout ratio is presently 127.14%.

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.