Guinness Asset Management LTD Reduces Position in Enbridge Inc. (NYSE:ENB)

Guinness Asset Management LTD decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 256,654 shares of the pipeline company’s stock after selling 38,700 shares during the quarter. Guinness Asset Management LTD’s holdings in Enbridge were worth $10,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ENB. FLC Capital Advisors boosted its stake in Enbridge by 5.7% during the 4th quarter. FLC Capital Advisors now owns 102,078 shares of the pipeline company’s stock worth $4,331,000 after purchasing an additional 5,484 shares during the period. Stokes Capital Advisors LLC lifted its position in Enbridge by 1.8% during the 4th quarter. Stokes Capital Advisors LLC now owns 105,781 shares of the pipeline company’s stock worth $4,488,000 after acquiring an additional 1,920 shares during the period. Diversify Wealth Management LLC grew its stake in shares of Enbridge by 18.5% in the 4th quarter. Diversify Wealth Management LLC now owns 36,238 shares of the pipeline company’s stock valued at $1,576,000 after purchasing an additional 5,655 shares during the last quarter. Gilman Hill Asset Management LLC acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $249,000. Finally, Client 1ST Advisory Group LLC purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $276,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $44.53 on Monday. The stock has a fifty day moving average price of $42.75 and a 200 day moving average price of $40.57. 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 stock has a market cap of $97.00 billion, a PE ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business posted $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENB shares. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price 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.