Fourpath Capital Management LLC Sells 1,027 Shares of Enbridge Inc. (NYSE:ENB)

Fourpath Capital Management LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,804 shares of the pipeline company’s stock after selling 1,027 shares during the quarter. Fourpath Capital Management LLC’s holdings in Enbridge were worth $1,731,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ENB. apricus wealth LLC increased its stake in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares in the last quarter. Eagle Bay Advisors LLC raised its position 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 buying an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after buying an additional 242 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Trading Down 0.7 %

Shares of Enbridge stock opened at $42.94 on Tuesday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market capitalization of $93.54 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 4.02 and a beta of 0.94. The stock has a 50 day moving average of $43.11 and a 200 day moving average of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned $0.46 EPS. As a group, research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed 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. 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 6.24%. Enbridge’s payout ratio is currently 121.76%.

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.