DORCHESTER WEALTH MANAGEMENT Co Sells 1,385 Shares of Enbridge Inc. (NYSE:ENB)

DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 341,353 shares of the pipeline company’s stock after selling 1,385 shares during the period. Enbridge accounts for about 2.8% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 7th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Enbridge were worth $14,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge during the fourth quarter valued at $29,000. Fortitude Family Office LLC acquired a new position in shares of Enbridge during the third quarter valued at $35,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge during the third quarter valued at $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted 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 acquiring an additional 580 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Down 0.6 %

NYSE ENB opened at $41.74 on Friday. The stock has a 50-day simple moving average of $43.35 and a 200 day simple moving average of $41.89. The company has a market capitalization of $90.94 billion, a PE ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. 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 12 month low of $32.85 and a 12 month high of $45.78.

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 analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company posted $0.64 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. Enbridge’s dividend payout ratio is presently 155.81%.

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.