Enbridge Inc. (NYSE:ENB) Stake Trimmed by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,337 shares of the pipeline company’s stock after selling 610 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Enbridge were worth $1,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC lifted its position 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 acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge during the fourth quarter valued at $29,000. Grove Bank & Trust raised its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the 3rd quarter valued at about $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB opened at $44.51 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market cap of $96.96 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The stock has a 50-day moving average of $43.20 and a 200-day moving average of $41.45. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ENB. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of $63.00.

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.