Forte Capital LLC ADV Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Forte Capital LLC ADV reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,561 shares of the pipeline company’s stock after selling 462 shares during the period. Forte Capital LLC ADV’s holdings in Enbridge were worth $2,103,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ENB. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter worth $29,000. MFA Wealth Advisors LLC lifted its position in shares of 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 during the last quarter. Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter worth $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in Enbridge during the 3rd quarter worth $37,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.9 %

NYSE ENB opened at $41.95 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market cap of $91.40 billion, a PE ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm’s fifty day moving average is $43.35 and its two-hundred day moving average is $41.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. During the same period in the previous year, the business posted $0.64 earnings per share. Analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid 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 dividend payout ratio is presently 155.81%.

Analyst Ratings Changes

Several brokerages recently commented on ENB. 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 research note on Tuesday. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.00.

About Enbridge

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.