Camelot Portfolios LLC Trims Stake in Enbridge Inc. (NYSE:ENB)

Camelot Portfolios LLC lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,140 shares of the pipeline company’s stock after selling 498 shares during the period. Camelot Portfolios LLC’s holdings in Enbridge were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. McIlrath & Eck LLC lifted its position in 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 buying an additional 295 shares during the period. Albion Financial Group UT purchased a new position in Enbridge during the 4th quarter valued at about $29,000. Fortitude Family Office LLC bought a new stake in Enbridge during the third quarter worth about $35,000. Darwin Wealth Management LLC purchased a new stake in Enbridge in the third quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake 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 purchasing an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $41.74 on Friday. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.95 and a beta of 0.94. The business’s fifty day simple moving average is $43.35 and its two-hundred day simple moving average is $41.87. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. 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 (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted $0.64 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 6.42%. Enbridge’s payout ratio is 155.81%.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

About Enbridge

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.