Enbridge Inc. (NYSE:ENB) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,336 shares of the pipeline company’s stock after selling 3,303 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Enbridge were worth $13,168,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Kingsview Wealth Management LLC grew its stake in Enbridge by 31.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 108,204 shares of the pipeline company’s stock valued at $4,591,000 after purchasing an additional 26,074 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Enbridge by 10.8% during the fourth quarter. Apollon Wealth Management LLC now owns 63,025 shares of the pipeline company’s stock worth $2,674,000 after purchasing an additional 6,132 shares during the period. Golden State Wealth Management LLC purchased a new stake in Enbridge in the fourth quarter valued at approximately $103,000. Strategic Financial Concepts LLC increased its holdings in Enbridge by 4,134.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 307,820 shares of the pipeline company’s stock worth $13,061,000 after buying an additional 300,551 shares during the period. Finally, Leo Wealth LLC raised its position in Enbridge by 42.1% during the 4th quarter. Leo Wealth LLC now owns 10,754 shares of the pipeline company’s stock worth $456,000 after buying an additional 3,186 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE ENB opened at $44.51 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The stock has a 50-day moving average of $43.20 and a 200 day moving average of $41.41. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94.

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 issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

Several equities research analysts have commented on ENB shares. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada restated 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. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Three research 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.