Daymark Wealth Partners LLC Reduces Position in Enbridge Inc. (NYSE:ENB)

Daymark Wealth Partners LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,042 shares of the pipeline company’s stock after selling 503 shares during the period. Daymark Wealth Partners LLC’s holdings in Enbridge were worth $553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter valued at approximately $28,000. McIlrath & Eck LLC grew its position in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter worth $29,000. Grove Bank & Trust lifted its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings 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 purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 0.2 %

Shares of NYSE:ENB opened at $44.87 on Friday. The company has a market capitalization of $97.73 billion, a P/E ratio of 20.77, a P/E/G ratio of 4.20 and a beta of 0.93. The stock’s fifty day simple moving average is $42.89 and its 200-day simple moving average 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 quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

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.