Enbridge Inc. (NYSE:ENB) Shares Sold by Hartford Financial Management Inc.

Hartford Financial Management Inc. trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,424 shares of the pipeline company’s stock after selling 3,256 shares during the quarter. Hartford Financial Management Inc.’s holdings in Enbridge were worth $1,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss National Bank boosted its stake in shares of 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 buying an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Enbridge by 70.7% in 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 acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Enbridge by 32.6% during 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 purchasing an additional 319,907 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $44.45 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. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a market cap of $96.82 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. The business has a fifty day moving average of $43.09 and a two-hundred day moving average of $41.08.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, analysts predict that Enbridge Inc. will post 1.97 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 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 6.03%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

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