Vaughan David Investments LLC IL Sells 5,752 Shares of Enbridge Inc. (NYSE:ENB)

Vaughan David Investments LLC IL lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,948 shares of the pipeline company’s stock after selling 5,752 shares during the period. Vaughan David Investments LLC IL’s holdings in Enbridge were worth $1,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in Enbridge during the fourth quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge during the third quarter worth about $35,000. Darwin Wealth Management LLC acquired a new stake in Enbridge during the third quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ENB. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Price Performance

ENB stock opened at $41.65 on Wednesday. The stock has a market cap of $90.75 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company has a 50 day simple moving average of $43.35 and a 200 day simple moving average of $41.96. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the business earned $0.64 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.44%. Enbridge’s dividend payout ratio is presently 155.81%.

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.