B. Riley Wealth Advisors Inc. Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

B. Riley Wealth Advisors Inc. reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,814 shares of the pipeline company’s stock after selling 6,727 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Enbridge were worth $3,329,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the 2nd quarter valued at $28,000. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% during the third 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 last quarter. Grove Bank & Trust grew its stake in 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 acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings 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 during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.3 %

Shares of ENB stock opened at $41.91 on Friday. 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 $91.28 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94. The company has a 50-day moving average of $42.02 and a two-hundred day moving average of $39.32. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The company 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 period in the previous year, the company posted $0.46 EPS. On average, analysts predict that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

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

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.