Enbridge Inc. (NYSE:ENB) Shares Sold by Forte Capital LLC ADV

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

Other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% during the third 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 period. Albion Financial Group UT acquired a new position in shares of Enbridge during the fourth quarter worth about $29,000. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Enbridge during the third quarter worth about $35,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Enbridge during the third quarter worth about $37,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Stock Down 0.9 %

ENB stock opened at $41.95 on Friday. The company has a market cap of $91.40 billion, a P/E ratio of 24.39, a P/E/G ratio of 4.03 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’s 50-day moving average price is $43.35 and its 200 day moving average price is $41.84. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, research analysts expect that Enbridge Inc. will post 2.12 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 6.39%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 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.