Capital Investment Advisors LLC Sells 5,575 Shares of Enbridge Inc. (NYSE:ENB)

Capital Investment Advisors LLC lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,227 shares of the pipeline company’s stock after selling 5,575 shares during the quarter. Capital Investment Advisors LLC’s holdings in Enbridge were worth $2,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $28,000. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Grove Bank & Trust boosted its position in shares of 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 period. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter worth $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

NYSE:ENB opened at $43.36 on Tuesday. The firm has a market capitalization of $94.45 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 4.14 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 $44.13. The firm has a 50-day moving average price of $42.56 and a 200 day moving average price of $40.36.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. Research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

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.