Enbridge Inc. (NYSE:ENB) Holdings Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 83,405 shares of the pipeline company’s stock after selling 5,347 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Enbridge were worth $3,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Leo Wealth LLC purchased a new stake in Enbridge in the 4th quarter worth about $228,000. Vanguard Group Inc. increased its holdings in Enbridge by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after buying an additional 1,561,598 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $88,000. SageView Advisory Group LLC bought a new stake in Enbridge in the fourth quarter worth approximately $346,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Enbridge by 18.5% during the 4th quarter. Fisher Asset Management LLC now owns 10,021 shares of the pipeline company’s stock valued at $361,000 after purchasing an additional 1,561 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Down 0.8 %

Shares of ENB opened at $34.86 on Tuesday. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The firm has a market capitalization of $74.10 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.29 and a beta of 0.90. The company has a 50-day simple moving average of $35.85 and a 200-day simple moving average of $35.63. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.77%. Enbridge’s dividend payout ratio is presently 136.04%.

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.