Enbridge Inc. (NYSE:ENB) Shares Sold by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,008 shares of the pipeline company’s stock after selling 1,449 shares during the period. Garrett Wealth Advisory Group LLC’s holdings in Enbridge were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. McIlrath & Eck LLC lifted its position in 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 acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the fourth quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the 3rd quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. increased its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new stake in shares of Enbridge during the 4th quarter valued at about $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 2.4 %

Shares of NYSE ENB opened at $42.73 on Monday. The firm has a 50 day moving average price of $43.42 and a two-hundred day moving average price of $42.01. The stock has a market cap of $93.11 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. 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.

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge presently 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.