Capital Investment Advisory Services LLC Sells 601 Shares of Enbridge Inc. (NYSE:ENB)

Capital Investment Advisory Services LLC cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 60,611 shares of the pipeline company’s stock after selling 601 shares during the period. Capital Investment Advisory Services LLC’s holdings in Enbridge were worth $2,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Thrivent Financial for Lutherans increased its holdings in Enbridge by 4.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock worth $1,346,000 after buying an additional 1,766 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Enbridge by 248.0% in the second quarter. Squarepoint Ops LLC now owns 53,573 shares of the pipeline company’s stock worth $1,907,000 after acquiring an additional 89,773 shares during the period. AQR Capital Management LLC purchased a new position in shares of Enbridge during the second quarter valued at approximately $303,000. Northwestern Mutual Wealth Management Co. lifted its position in Enbridge by 2.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 112,302 shares of the pipeline company’s stock valued at $3,997,000 after purchasing an additional 2,415 shares during the period. Finally, EP Wealth Advisors LLC boosted its holdings in Enbridge by 118.5% in the second quarter. EP Wealth Advisors LLC now owns 28,051 shares of the pipeline company’s stock worth $998,000 after purchasing an additional 15,214 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $44.29 on Thursday. The stock has a market cap of $96.47 billion, a P/E ratio of 20.50, a P/E/G ratio of 4.15 and a beta of 0.93. 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 stock’s fifty day moving average is $43.06 and its 200 day moving average is $41.05. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the company earned $0.46 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared 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 of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.05%. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analyst Weigh In

ENB has been the topic of several research analyst reports. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.