Triangle Securities Wealth Management Lowers Position in Enbridge Inc. (NYSE:ENB)

Triangle Securities Wealth Management decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,335 shares of the pipeline company’s stock after selling 953 shares during the quarter. Triangle Securities Wealth Management’s holdings in Enbridge were worth $2,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC increased its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter worth approximately $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

NYSE ENB opened at $44.53 on Friday. 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 52 week low of $32.85 and a 52 week high of $44.90. The firm has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. The company has a fifty day moving average of $42.75 and a two-hundred day moving average of $40.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned $0.46 EPS. On average, analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

ENB has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday. They issued a “buy” rating for the company. Three research 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 currently has a consensus rating of “Hold” and an average price target of $63.00.

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.