Enbridge Inc. (NYSE:ENB) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 341,353 shares of the pipeline company’s stock after selling 1,385 shares during the quarter. Enbridge makes up 2.8% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 7th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Enbridge were worth $14,298,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge in the 3rd quarter worth approximately $35,000. Darwin Wealth Management LLC acquired a new stake in Enbridge in the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENB shares. Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $41.74 on Friday. The business’s fifty day moving average price is $43.35 and its two-hundred day moving average price is $41.89. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 155.81%.

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.