Enbridge Inc. (NYSE:ENB) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,043 shares of the pipeline company’s stock after selling 3,200 shares during the period. Enbridge comprises approximately 1.6% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 24th largest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Enbridge were worth $1,953,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its holdings in shares of Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares during the period. Associated Banc Corp lifted its holdings in Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 248 shares during the last quarter. Hobbs Group Advisors LLC grew its holdings in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after purchasing an additional 256 shares during the period. Finally, First PREMIER Bank lifted its holdings in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 257 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENB. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.66 on Friday, hitting $43.36. The company had a trading volume of 1,196,966 shares, compared to its average volume of 2,504,776. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13. 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 company has a market cap of $94.45 billion, a PE ratio of 20.07, a PEG ratio of 4.14 and a beta of 0.93. The business has a 50-day simple moving average of $42.45 and a 200-day simple moving average of $40.17.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company posted $0.46 EPS. Research analysts expect that Enbridge Inc. will post 2.03 EPS for the current fiscal 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 paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.18%. Enbridge’s dividend payout ratio is currently 124.07%.

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.