Laurel Wealth Advisors LLC Has $3.25 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Laurel Wealth Advisors LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in Enbridge by 7.9% during the fourth quarter. CIBC Asset Management Inc now owns 22,358,849 shares of the pipeline company’s stock valued at $807,469,000 after buying an additional 1,641,245 shares during the period. The Manufacturers Life Insurance Company grew its stake in Enbridge by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after purchasing an additional 2,895,742 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Enbridge by 34.0% in the fourth quarter. Jones Financial Companies Lllp now owns 30,656 shares of the pipeline company’s stock valued at $1,104,000 after purchasing an additional 7,776 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Enbridge in the fourth quarter valued at about $1,528,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in Enbridge by 494.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 93,311 shares of the pipeline company’s stock valued at $3,361,000 after purchasing an additional 77,605 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 1.2 %

Shares of ENB traded down $0.44 during trading hours on Friday, hitting $35.82. 4,385,230 shares of the company were exchanged, compared to its average volume of 6,269,155. The company has a market cap of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. The firm’s 50 day moving average is $35.19 and its 200-day moving average is $34.80. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

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

Enbridge Increases Dividend

The firm also recently disclosed 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. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 129.05%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ENB shares. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.20.

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.