Laurel Wealth Advisors LLC Has $2.71 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Laurel Wealth Advisors LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,931 shares of the pipeline company’s stock after selling 547 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Enbridge were worth $2,713,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after buying an additional 319,907 shares during the period. Pinnacle Financial Partners Inc grew its position in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its stake in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.5 %

Shares of NYSE ENB opened at $44.04 on Wednesday. The company has a market cap of $95.93 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 4.14 and a beta of 0.93. 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 12 month low of $32.85 and a 12 month high of $44.13. The stock has a 50-day moving average price of $42.62 and a two-hundred day moving average price of $40.42.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company earned $0.46 EPS. As a group, analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.09%. Enbridge’s dividend payout ratio is currently 124.07%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ENB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

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.