RFG Advisory LLC Cuts Position in Enbridge Inc (NYSE:ENB)

RFG Advisory LLC lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,956 shares of the pipeline company’s stock after selling 1,383 shares during the quarter. RFG Advisory LLC’s holdings in Enbridge were worth $396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Blueprint LLC purchased a new stake in Enbridge in the third quarter worth about $27,000. Manchester Financial Inc. purchased a new stake in Enbridge in the fourth quarter worth about $28,000. Vista Private Wealth Partners. LLC purchased a new stake in Enbridge in the third quarter worth about $33,000. Bridger Capital Management LLC purchased a new stake in Enbridge in the third quarter worth about $34,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in Enbridge in the third quarter worth about $35,000. Institutional investors and hedge funds own 53.54% of the company’s stock.

ENB has been the topic of a number of recent research reports. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Evercore ISI restated a “hold” rating and issued a $48.00 price objective on shares of Enbridge in a report on Tuesday, November 12th. Bank of America initiated coverage on shares of Enbridge in a report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective on the stock. Argus initiated coverage on shares of Enbridge in a report on Wednesday, December 4th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, US Capital Advisors cut shares of Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Enbridge presently has a consensus rating of “Hold” and an average price target of $47.90.

Shares of NYSE ENB opened at $41.00 on Friday. The firm’s 50 day moving average price is $39.54 and its 200-day moving average price is $36.48. The company has a market cap of $82.68 billion, a PE ratio of 18.98, a P/E/G ratio of 3.21 and a beta of 0.64. Enbridge Inc has a 52-week low of $32.23 and a 52-week high of $41.07. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.50 and a current ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $11.65 billion. Enbridge had a net margin of 12.07% and a return on equity of 8.31%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, analysts forecast that Enbridge Inc will post 2.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.6119 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date is Thursday, February 13th. This represents a $2.45 dividend on an annualized basis and a yield of 5.97%. Enbridge’s dividend payout ratio is 108.78%.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Recommended Story: What is the outlook for the FAANG stocks?

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.