Stableford Capital II LLC Sells 476 Shares of Enbridge Inc. (NYSE:ENB)

Stableford Capital II LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,463 shares of the pipeline company’s stock after selling 476 shares during the period. Stableford Capital II LLC’s holdings in Enbridge were worth $1,632,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. McIlrath & Eck LLC grew 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 bought a new position in shares of Enbridge during the 4th quarter worth $29,000. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% in the third 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 lifted its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the 3rd quarter worth about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 2.7 %

Shares of NYSE:ENB opened at $43.29 on Friday. The business’s 50-day moving average is $43.11 and its 200 day moving average is $41.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm has a market capitalization of $94.31 billion, a P/E ratio of 20.04, a P/E/G ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during 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 period last year, the business earned $0.46 EPS. On average, research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.