Portside Wealth Group LLC Sells 281 Shares of Enbridge Inc. (NYSE:ENB)

Portside Wealth Group LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,897 shares of the pipeline company’s stock after selling 281 shares during the period. Portside Wealth Group LLC’s holdings in Enbridge were worth $1,214,000 at the end of the most recent quarter.

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

Enbridge Trading Up 1.1 %

ENB opened at $44.53 on Friday. The stock has a 50-day moving average of $42.75 and a 200 day moving average of $40.54. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.90. The firm has a market cap of $97.00 billion, a P/E ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of research analyst reports. TD Securities began coverage on shares of Enbridge in a report on Wednesday. They set a “buy” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.00.

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.