First Trust Direct Indexing L.P. Sells 3,482 Shares of Enbridge Inc. (NYSE:ENB)

First Trust Direct Indexing L.P. cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.7% in the fourth quarter, Holdings Channel reports. The fund owned 17,308 shares of the pipeline company’s stock after selling 3,482 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Enbridge were worth $623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge in the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC raised its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the fourth quarter worth approximately $28,000. Financial Gravity Asset Management Inc. lifted its holdings in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new stake in Enbridge during the 4th quarter valued at $34,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Stifel Nicolaus started coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Trading Down 0.2 %

Enbridge stock opened at $36.34 on Friday. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The stock has a market cap of $77.26 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The stock has a 50-day moving average of $35.32 and a two-hundred day moving average of $34.91.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is presently 129.05%.

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.