Mutual Advisors LLC Sells 3,254 Shares of Enbridge Inc. (NYSE:ENB)

Mutual Advisors LLC cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,097 shares of the pipeline company’s stock after selling 3,254 shares during the quarter. Mutual Advisors LLC’s holdings in Enbridge were worth $1,677,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Armstrong Advisory Group Inc. raised its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC grew its stake in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares in the last quarter. Richardson Financial Services Inc. grew its stake in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 246 shares in the last quarter. Associated Banc Corp grew its stake in shares of Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares in the last quarter. Finally, Hobbs Group Advisors LLC grew its stake in shares of Enbridge by 15.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after acquiring an additional 249 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.5 %

Shares of Enbridge stock opened at $45.08 on Friday. The company has a market capitalization of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 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 12-month low of $32.85 and a 12-month high of $45.78. The firm’s 50-day moving average price is $42.93 and its two-hundred day moving average price is $40.79.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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 the consensus estimate of $4.54 billion. During the same period in the prior year, the company posted $0.46 earnings per share. On average, 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. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.95%. Enbridge’s payout ratio is currently 124.07%.

Wall Street Analyst Weigh In

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

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.