Enbridge Inc. (NYSE:ENB) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,534 shares of the pipeline company’s stock after selling 463 shares during the period. Smith Salley Wealth Management’s holdings in Enbridge were worth $2,696,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ENB. HB Wealth Management LLC raised its holdings in shares of Enbridge by 90.1% during the fourth quarter. HB Wealth Management LLC now owns 13,933 shares of the pipeline company’s stock worth $591,000 after purchasing an additional 6,603 shares during the period. Galibier Capital Management Ltd. grew its position in shares of Enbridge by 26.0% during the 4th quarter. Galibier Capital Management Ltd. now owns 809,045 shares of the pipeline company’s stock valued at $34,320,000 after buying an additional 167,181 shares during the last quarter. Verity & Verity LLC raised its stake in Enbridge by 8.4% during the fourth quarter. Verity & Verity LLC now owns 537,672 shares of the pipeline company’s stock worth $22,813,000 after acquiring an additional 41,609 shares during the period. Arkadios Wealth Advisors boosted its stake in Enbridge by 4.8% in the fourth quarter. Arkadios Wealth Advisors now owns 10,529 shares of the pipeline company’s stock valued at $447,000 after acquiring an additional 483 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its holdings in shares of Enbridge by 40.0% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 21,230 shares of the pipeline company’s stock valued at $901,000 after purchasing an additional 6,064 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

ENB stock opened at $44.53 on Friday. The company has a 50-day simple moving average of $42.75 and a 200 day simple moving average of $40.54. The company has a market capitalization of $97.00 billion, a P/E ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

Enbridge Company 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.