GPS Wealth Strategies Group LLC Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

GPS Wealth Strategies Group LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,117 shares of the pipeline company’s stock after selling 700 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Enbridge were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter valued at approximately $29,000. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC grew its holdings in shares of 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 bought a new position in shares of Enbridge in the 3rd quarter worth approximately $35,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 2.7 %

NYSE ENB opened at $43.29 on Monday. The stock’s fifty day moving average price is $43.11 and its 200-day moving average price is $41.19. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market cap of $94.31 billion, a P/E ratio of 20.04, a P/E/G ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during 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 last year, the business earned $0.46 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 1.97 EPS 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 $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENB. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge 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.