Radnor Capital Management LLC Sells 7,975 Shares of Enbridge Inc. (NYSE:ENB)

Radnor Capital Management LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,889 shares of the pipeline company’s stock after selling 7,975 shares during the period. Radnor Capital Management LLC’s holdings in Enbridge were worth $2,626,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. McIlrath & Eck LLC raised its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge in the third quarter valued at about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENB. TD Securities initiated coverage on Enbridge in a report on Wednesday. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (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 note on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Up 1.5 %

NYSE ENB opened at $44.04 on Wednesday. The stock’s 50 day simple moving average is $42.62 and its 200 day simple moving average is $40.42. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The firm has a market cap of $95.93 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, sell-side analysts forecast 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 given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 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.