Enbridge Inc. (NYSE:ENB) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,232 shares of the pipeline company’s stock after selling 488 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Enbridge were worth $858,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ENB. Barclays PLC grew its stake in Enbridge by 8.3% in the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after acquiring an additional 44,675 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Enbridge by 12.5% in the fourth quarter. Merit Financial Group LLC now owns 29,073 shares of the pipeline company’s stock valued at $1,234,000 after purchasing an additional 3,232 shares during the period. Arkadios Wealth Advisors increased its stake in Enbridge by 4.8% in the fourth quarter. Arkadios Wealth Advisors now owns 10,529 shares of the pipeline company’s stock valued at $447,000 after purchasing an additional 483 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Enbridge by 90.1% in the fourth quarter. HB Wealth Management LLC now owns 13,933 shares of the pipeline company’s stock valued at $591,000 after purchasing an additional 6,603 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 1.5%

ENB opened at $45.60 on Wednesday. The company has a market cap of $99.41 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08. The firm has a 50 day moving average price of $44.59 and a 200 day moving average price of $43.52.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 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 business earned $0.92 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.96%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Analyst Ratings Changes

Several analysts have commented on the company. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

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.