Enbridge Inc. (NYSE:ENB) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,274 shares of the pipeline company’s stock after selling 984 shares during the period. Welch & Forbes LLC’s holdings in Enbridge were worth $478,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. bought a new position in Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC grew its holdings in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Enbridge during the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new stake in shares of Enbridge in the fourth quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ENB shares. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Trading Up 0.8 %

ENB traded up $0.29 during trading on Wednesday, hitting $37.12. 1,247,167 shares of the stock were exchanged, compared to its average volume of 5,745,393. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.22. The firm has a 50 day simple moving average of $35.41 and a 200 day simple moving average of $35.02. The firm has a market cap of $78.92 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 3.43 and a beta of 0.87. 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 announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, equities analysts expect that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 127.14%.

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.