Kellett Wealth Advisors LLC Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Kellett Wealth Advisors LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,596 shares of the pipeline company’s stock after selling 950 shares during the period. Kellett Wealth Advisors LLC’s holdings in Enbridge were worth $492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Swiss National Bank increased its stake in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc increased its holdings in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Enbridge Stock Up 0.3 %

Enbridge stock opened at $41.65 on Wednesday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock has a fifty day moving average of $43.35 and a 200 day moving average of $41.96. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $90.75 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 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.