Lee Financial Co Sells 570 Shares of Enbridge Inc. (NYSE:ENB)

Lee Financial Co lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,604 shares of the pipeline company’s stock after selling 570 shares during the period. Lee Financial Co’s holdings in Enbridge were worth $1,553,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tcfg Wealth Management LLC raised its holdings in Enbridge by 37.3% during the 4th quarter. Tcfg Wealth Management LLC now owns 11,620 shares of the pipeline company’s stock worth $493,000 after buying an additional 3,155 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Enbridge by 2.0% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company’s stock worth $541,000 after acquiring an additional 251 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Enbridge by 38.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 10,091 shares of the pipeline company’s stock worth $428,000 after acquiring an additional 2,822 shares during the period. Allworth Financial LP lifted its position in Enbridge by 516.1% in the 4th quarter. Allworth Financial LP now owns 69,604 shares of the pipeline company’s stock valued at $3,115,000 after acquiring an additional 58,307 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new position in Enbridge in the 4th quarter worth $385,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ENB shares. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $43.13 on Friday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a market cap of $93.95 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.08 and a beta of 0.94. 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 stock’s 50-day simple moving average is $43.33 and its 200 day simple moving average is $41.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

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.