Wrapmanager Inc. Has $515,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Wrapmanager Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,144 shares of the pipeline company’s stock after selling 1,664 shares during the quarter. Wrapmanager Inc.’s holdings in Enbridge were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ENB. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of Enbridge in the third quarter valued at $35,000. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge in the third quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.6 %

Shares of NYSE ENB opened at $41.52 on Tuesday. The business has a 50 day simple moving average of $43.35 and a 200 day simple moving average of $41.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market cap of $90.47 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.46%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment 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, Enbridge has an average rating of “Hold” and an average price target 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.