Enbridge Inc. (NYSE:ENB) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,792 shares of the pipeline company’s stock after selling 614 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Enbridge were worth $569,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its holdings in shares of Enbridge by 52.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 3,989 shares of the pipeline company’s stock valued at $144,000 after purchasing an additional 1,380 shares during the period. Savant Capital LLC grew its position in Enbridge by 23.1% in the 4th quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock valued at $776,000 after buying an additional 4,049 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Enbridge during the 4th quarter valued at about $206,000. Mission Wealth Management LP raised its position in shares of Enbridge by 60.6% during the 4th quarter. Mission Wealth Management LP now owns 11,677 shares of the pipeline company’s stock worth $421,000 after buying an additional 4,407 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in shares of Enbridge by 6.5% in the 4th quarter. WealthTrust Axiom LLC now owns 16,323 shares of the pipeline company’s stock worth $588,000 after acquiring an additional 1,000 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

NYSE ENB opened at $36.34 on Friday. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The business’s fifty day moving average is $35.32 and its two-hundred day moving average is $34.91. The stock has a market capitalization of $77.26 billion, a P/E ratio of 17.30, a P/E/G ratio of 3.43 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, research analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.45%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 129.05%.

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.