FDx Advisors Inc. Has $387,000 Position in Enbridge Inc. (NYSE:ENB)

FDx Advisors Inc. trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,115 shares of the pipeline company’s stock after selling 747 shares during the quarter. FDx Advisors Inc.’s holdings in Enbridge were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. McIlrath & Eck LLC lifted its stake 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 during the last quarter. Albion Financial Group UT acquired a new position in Enbridge in the 4th quarter worth about $29,000. MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the third quarter valued at about $35,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Enbridge during the third quarter worth about $37,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.9 %

Shares of NYSE ENB opened at $41.95 on Friday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company’s 50 day moving average price is $43.35 and its 200-day moving average price is $41.84. The company has a market capitalization of $91.40 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.95 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.39%. Enbridge’s payout ratio is currently 155.81%.

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.