Davis Rea LTD. Sells 4,452 Shares of Enbridge Inc. (NYSE:ENB)

Davis Rea LTD. cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 45.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,302 shares of the pipeline company’s stock after selling 4,452 shares during the period. Enbridge makes up 0.1% of Davis Rea LTD.’s investment portfolio, making the stock its 28th biggest holding. Davis Rea LTD.’s holdings in Enbridge were worth $225,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Private Trust Co. NA boosted its stake in shares of Enbridge by 5.5% during the 4th quarter. Private Trust Co. NA now owns 9,415 shares of the pipeline company’s stock worth $399,000 after acquiring an additional 488 shares in the last quarter. Argyle Capital Management LLC lifted its holdings in Enbridge by 1.4% in the 4th quarter. Argyle Capital Management LLC now owns 79,341 shares of the pipeline company’s stock worth $3,366,000 after purchasing an additional 1,133 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Enbridge during the fourth quarter worth approximately $319,000. Versor Investments LP boosted its position in Enbridge by 96.8% during the fourth quarter. Versor Investments LP now owns 18,102 shares of the pipeline company’s stock worth $768,000 after purchasing an additional 8,902 shares during the period. Finally, First Command Advisory Services Inc. raised its position in shares of Enbridge by 4,864.0% in the fourth quarter. First Command Advisory Services Inc. now owns 1,241 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 1,216 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.0 %

ENB opened at $41.74 on Friday. The business has a 50 day moving average of $43.40 and a 200-day moving average of $41.95. The stock has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analyst Weigh In

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

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.