Laurel Wealth Advisors LLC Sells 11,510 Shares of Enbridge Inc. (NYSE:ENB)

Laurel Wealth Advisors LLC trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,181 shares of the pipeline company’s stock after selling 11,510 shares during the period. Laurel Wealth Advisors LLC’s holdings in Enbridge were worth $3,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. KRS Capital Management LLC raised its holdings in Enbridge by 40.9% during the third quarter. KRS Capital Management LLC now owns 8,443 shares of the pipeline company’s stock worth $283,000 after acquiring an additional 2,450 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Enbridge by 12.9% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 43,084 shares of the pipeline company’s stock worth $1,430,000 after acquiring an additional 4,932 shares in the last quarter. KG&L Capital Management LLC raised its holdings in Enbridge by 13.7% during the third quarter. KG&L Capital Management LLC now owns 9,511 shares of the pipeline company’s stock worth $316,000 after acquiring an additional 1,143 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Enbridge by 23.1% during the third quarter. Valeo Financial Advisors LLC now owns 8,101 shares of the pipeline company’s stock worth $269,000 after acquiring an additional 1,520 shares in the last quarter. Finally, InTrack Investment Management Inc increased its position in Enbridge by 14.1% during the third quarter. InTrack Investment Management Inc now owns 7,682 shares of the pipeline company’s stock worth $255,000 after buying an additional 948 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.44 on Friday, hitting $35.82. The stock had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The business’s 50 day moving average is $35.19 and its two-hundred day moving average is $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. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 3.40 and a beta of 0.84.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. 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.