Teamwork Financial Advisors LLC Sells 507 Shares of Enbridge Inc. (NYSE:ENB)

Teamwork Financial Advisors LLC trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,370 shares of the pipeline company’s stock after selling 507 shares during the period. Teamwork Financial Advisors LLC’s holdings in Enbridge were worth $313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% during 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 in the last quarter. Albion Financial Group UT bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $29,000. Grove Bank & Trust grew its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in Enbridge during the second quarter valued at $28,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.2 %

Shares of NYSE ENB opened at $44.77 on Thursday. The firm’s 50 day moving average price is $42.89 and its 200-day moving average price is $40.76. 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 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market cap of $97.53 billion, a PE ratio of 20.73, a P/E/G ratio of 4.20 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.99%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENB shares. Morgan Stanley began 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 restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.