Atria Wealth Solutions Inc. Sells 27,549 Shares of Enbridge Inc. (NYSE:ENB)

Atria Wealth Solutions Inc. trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,322 shares of the pipeline company’s stock after selling 27,549 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Enbridge were worth $5,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yousif Capital Management LLC raised its stake in Enbridge by 12.3% during the 4th quarter. Yousif Capital Management LLC now owns 37,427 shares of the pipeline company’s stock worth $1,348,000 after buying an additional 4,100 shares during the period. Cumberland Partners Ltd raised its stake in Enbridge by 10.6% during the 4th quarter. Cumberland Partners Ltd now owns 101,124 shares of the pipeline company’s stock worth $3,603,000 after buying an additional 9,730 shares during the period. National Wealth Management Group LLC raised its stake in Enbridge by 25.7% during the 4th quarter. National Wealth Management Group LLC now owns 14,116 shares of the pipeline company’s stock worth $508,000 after buying an additional 2,883 shares during the period. Larson Financial Group LLC raised its stake in Enbridge by 14.2% during the 4th quarter. Larson Financial Group LLC now owns 6,449 shares of the pipeline company’s stock worth $232,000 after buying an additional 800 shares during the period. Finally, Aspire Private Capital LLC raised its stake in Enbridge by 2.7% during the 4th quarter. Aspire Private Capital LLC now owns 17,791 shares of the pipeline company’s stock worth $641,000 after buying an additional 470 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Stock Performance

Shares of Enbridge stock opened at $35.82 on Friday. The company has a market cap of $76.15 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The business has a 50 day moving average price of $35.19 and a 200-day moving average price of $34.80. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. Equities analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. Enbridge’s dividend payout ratio is currently 129.05%.

Enbridge Company 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.