Enbridge Inc. (NYSE:ENB) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,534 shares of the pipeline company’s stock after selling 463 shares during the period. Smith Salley Wealth Management’s holdings in Enbridge were worth $2,696,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Enbridge by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after buying an additional 25,717 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Enbridge by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock worth $3,272,000 after acquiring an additional 3,894 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Enbridge by 6.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock worth $489,000 after purchasing an additional 861 shares during the period. Intech Investment Management LLC grew its holdings in shares of Enbridge by 158.6% during the 2nd quarter. Intech Investment Management LLC now owns 290,940 shares of the pipeline company’s stock worth $10,348,000 after purchasing an additional 178,436 shares during the period. Finally, Brighton Jones LLC purchased a new position in Enbridge in the second quarter valued at approximately $205,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. 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 report on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research note on Wednesday. They set a “buy” rating on the stock. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Performance

NYSE:ENB opened at $44.53 on Friday. The firm has a 50-day moving average of $42.75 and a two-hundred day moving average of $40.54. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market cap of $97.00 billion, a P/E ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.90.

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid 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 yield of 6.02%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.