Wells Fargo & Company MN Has $152.39 Million Stake in Enbridge Inc. (NYSE:ENB)

Wells Fargo & Company MN trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,230,590 shares of the pipeline company’s stock after selling 262,492 shares during the period. Wells Fargo & Company MN owned about 0.20% of Enbridge worth $152,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge in the fourth quarter worth about $25,000. Baystate Wealth Management LLC raised its stake in shares of 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 acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge in the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. raised its stake in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Enbridge in the fourth quarter worth about $34,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Down 0.3 %

Shares of NYSE:ENB opened at $36.68 on Wednesday. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The company has a 50 day moving average of $35.80 and a 200-day moving average of $35.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock has a market cap of $77.98 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 3.47 and a beta of 0.86.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.38%. Enbridge’s payout ratio is currently 136.04%.

About Enbridge

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.