Concord Wealth Partners Sells 2,608 Shares of Enbridge Inc. (NYSE:ENB)

Concord Wealth Partners lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 54.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,159 shares of the pipeline company’s stock after selling 2,608 shares during the period. Concord Wealth Partners’ holdings in Enbridge were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ENB. Hexagon Capital Partners LLC boosted its position in shares of Enbridge by 52.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 3,989 shares of the pipeline company’s stock valued at $144,000 after purchasing an additional 1,380 shares in the last quarter. Savant Capital LLC increased its position in shares of Enbridge by 23.1% during the fourth quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock valued at $776,000 after acquiring an additional 4,049 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in Enbridge during the fourth quarter valued at $206,000. Mission Wealth Management LP grew its holdings in Enbridge by 60.6% during the fourth quarter. Mission Wealth Management LP now owns 11,677 shares of the pipeline company’s stock valued at $421,000 after purchasing an additional 4,407 shares during the period. Finally, WealthTrust Axiom LLC grew its holdings in Enbridge by 6.5% during the fourth quarter. WealthTrust Axiom LLC now owns 16,323 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 2.4 %

NYSE ENB opened at $36.44 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market capitalization of $77.47 billion, a PE ratio of 17.35, a PEG ratio of 3.36 and a beta of 0.83. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The business’s 50-day moving average is $35.29 and its 200 day moving average is $34.89.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion for 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%. Sell-side analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.43%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is presently 127.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ENB shares. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $55.20.

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.