Enbridge Inc. (NYSE:ENB) Shares Sold by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 35.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 738 shares of the pipeline company’s stock after selling 400 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Enbridge were worth $31,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. McIlrath & Eck LLC lifted its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Enbridge in the 3rd quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 2.4 %

Enbridge stock opened at $42.73 on Friday. The firm has a market cap of $93.11 billion, a PE ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm’s 50 day moving average price is $43.42 and its two-hundred day moving average price is $42.00. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 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 $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were paid a $0.67 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.27%. Enbridge’s payout ratio is presently 155.81%.

Analysts Set New Price Targets

ENB has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge 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.