Enbridge Inc. (NYSE:ENB) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,400 shares of the pipeline company’s stock after selling 657 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Enbridge were worth $5,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares in the last quarter. National Bank of Canada FI lifted its holdings in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after buying an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 1.0 %

NYSE ENB opened at $42.31 on Thursday. 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’s fifty day moving average price is $43.35 and its 200 day moving average price is $41.84. The company has a market capitalization of $92.20 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results 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 firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. During the same period last year, the firm posted $0.64 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.15 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.33%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENB shares. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge 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.