Advisors Management Group Inc. ADV Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

Advisors Management Group Inc. ADV trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,983 shares of the pipeline company’s stock after selling 1,458 shares during the period. Enbridge makes up about 1.9% of Advisors Management Group Inc. ADV’s holdings, making the stock its 16th biggest holding. Advisors Management Group Inc. ADV’s holdings in Enbridge were worth $8,019,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Swiss National Bank increased its stake in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after buying an additional 319,907 shares during the period. Pinnacle Financial Partners Inc lifted its position in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its stake in Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research report on Wednesday. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $44.36 on Thursday. The company’s fifty day moving average price is $42.62 and its two-hundred day moving average price is $40.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $96.63 billion, a P/E ratio of 20.54, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.74.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.04%. Enbridge’s dividend payout ratio (DPR) is 124.07%.

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.