Octavia Wealth Advisors LLC Sells 283 Shares of Enbridge Inc. (NYSE:ENB)

Octavia Wealth Advisors LLC trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,444 shares of the pipeline company’s stock after selling 283 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Enbridge were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Atomi Financial Group Inc. lifted its stake in Enbridge by 10.7% in the fourth quarter. Atomi Financial Group Inc. now owns 28,601 shares of the pipeline company’s stock worth $1,214,000 after purchasing an additional 2,776 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Enbridge by 7.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 74,580 shares of the pipeline company’s stock valued at $3,165,000 after acquiring an additional 5,440 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Enbridge by 5.8% during the 4th quarter. Ballentine Partners LLC now owns 10,939 shares of the pipeline company’s stock valued at $464,000 after acquiring an additional 597 shares during the period. FLC Capital Advisors grew its position in Enbridge by 5.7% during the 4th quarter. FLC Capital Advisors now owns 102,078 shares of the pipeline company’s stock worth $4,331,000 after acquiring an additional 5,484 shares during the last quarter. Finally, Stokes Capital Advisors LLC increased its stake in Enbridge by 1.8% in the 4th quarter. Stokes Capital Advisors LLC now owns 105,781 shares of the pipeline company’s stock worth $4,488,000 after purchasing an additional 1,920 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.9 %

NYSE:ENB opened at $45.35 on Wednesday. The company has a 50-day moving average price of $42.79 and a 200-day moving average price of $40.66. The stock has a market cap of $98.79 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 4.13 and a beta of 0.93. 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 Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 analyst estimates of $4.54 billion. During the same period last year, the business posted $0.46 earnings per share. Equities analysts predict that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.91%. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENB shares. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.00.

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.