Agate Pass Investment Management LLC Has $1.72 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Agate Pass Investment Management LLC cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,489 shares of the pipeline company’s stock after selling 500 shares during the period. Agate Pass Investment Management LLC’s holdings in Enbridge were worth $1,718,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ENB. William B. Walkup & Associates Inc. bought a new position in Enbridge in the 2nd quarter valued at $28,000. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the last quarter. Grove Bank & Trust grew its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge in the third quarter worth about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Trading Up 0.4 %

Shares of ENB stock traded up $0.18 during trading hours on Monday, reaching $43.66. The company had a trading volume of 1,373,992 shares, compared to its average volume of 2,867,504. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13. 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 firm has a market cap of $95.10 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 4.14 and a beta of 0.93. The company has a 50 day moving average of $42.51 and a 200 day moving average of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during 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 in the prior year, the company posted $0.46 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 124.07%.

Enbridge 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.