Bartlett & CO. Wealth Management LLC Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Bartlett & CO. Wealth Management LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,987 shares of the pipeline company’s stock after selling 22,881 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Enbridge were worth $3,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Swiss National Bank increased 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 valued at $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the last quarter. Finally, Stonegate Investment Group LLC increased its holdings in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $44.87 on Friday. 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 firm has a market capitalization of $97.73 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 4.20 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a 50 day moving average price of $42.89 and a 200 day moving average price of $40.76.

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 the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analysts Set New Price Targets

Several analysts have recently commented on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.