Enbridge Inc. (NYSE:ENB) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,400 shares of the pipeline company’s stock after selling 657 shares during the period. Atria Wealth Solutions Inc.’s holdings in Enbridge were worth $5,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the fourth quarter worth about $29,000. MFA Wealth Advisors LLC grew its stake in 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. Fortitude Family Office LLC purchased a new stake in Enbridge during the 3rd quarter valued at about $35,000. Finally, Darwin Wealth Management LLC purchased a new stake in Enbridge during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $42.31 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $92.20 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 4.02 and a beta of 0.94. The company’s 50-day moving average is $43.35 and its two-hundred day moving average is $41.84. 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 data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.64 EPS. Analysts forecast that Enbridge Inc. will post 2.15 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.33%. Enbridge’s dividend payout ratio is currently 155.81%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.