Pettyjohn Wood & White Inc. Cuts Position in Enbridge Inc. (NYSE:ENB)

Pettyjohn Wood & White Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 61,303 shares of the pipeline company’s stock after selling 3,725 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Enbridge were worth $2,601,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ENB. Swiss National Bank increased its holdings in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after acquiring an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.0 %

ENB stock opened at $41.74 on Friday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. 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 market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a fifty day moving average price of $43.40 and a 200 day moving average price of $41.95.

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

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.42%. Enbridge’s payout ratio is currently 155.81%.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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.