Enbridge Inc. (NYSE:ENB) Shares Sold by Nelson Capital Management LLC

Nelson Capital Management LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,975 shares of the pipeline company’s stock after selling 955 shares during the quarter. Nelson Capital Management LLC’s holdings in Enbridge were worth $211,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Enbridge by 734.1% during the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock worth $36,200,000 after purchasing an additional 784,535 shares during the period. Assenagon Asset Management S.A. lifted its stake in Enbridge by 19.8% during the third quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock valued at $3,054,000 after buying an additional 12,431 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Enbridge by 0.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock worth $17,734,000 after buying an additional 2,753 shares during the period. J.W. Cole Advisors Inc. increased its position in shares of Enbridge by 25.2% in the third quarter. J.W. Cole Advisors Inc. now owns 16,898 shares of the pipeline company’s stock worth $686,000 after acquiring an additional 3,402 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Enbridge by 146.5% during the third quarter. Concord Wealth Partners now owns 2,329 shares of the pipeline company’s stock valued at $95,000 after acquiring an additional 1,384 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $41.65 on Wednesday. The business has a fifty day simple moving average of $43.35 and a 200 day simple moving average of $41.96. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm has a market cap of $90.75 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the company earned $0.64 EPS. As a group, sell-side 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 given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.44%. Enbridge’s payout ratio is currently 155.81%.

Analyst Ratings Changes

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

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.