Enbridge Inc (ENB) Stake Lessened by Carroll Financial Associates Inc.
Carroll Financial Associates Inc. reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,771 shares of the pipeline company’s stock after selling 5,030 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Enbridge were worth $3,678,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Csenge Advisory Group acquired a new position in Enbridge during the 3rd quarter worth approximately $28,000. Arlington Partners LLC acquired a new position in Enbridge during the 4th quarter worth approximately $57,000. North Star Investment Management Corp. raised its stake in Enbridge by 27.8% during the 4th quarter. North Star Investment Management Corp. now owns 2,203 shares of the pipeline company’s stock worth $68,000 after buying an additional 479 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new position in Enbridge during the 3rd quarter worth approximately $113,000. Finally, Legacy Advisors LLC acquired a new position in Enbridge during the 3rd quarter worth approximately $115,000. 49.11% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on ENB shares. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, October 8th. UBS Group started coverage on Enbridge in a report on Thursday, October 4th. They set a “buy” rating for the company. ValuEngine raised Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Citigroup reissued a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Finally, Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.20.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.28 billion. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. During the same period in the prior year, the company posted $0.39 earnings per share. On average, equities analysts forecast that Enbridge Inc will post 2.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a $0.555 dividend. The ex-dividend date is Thursday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. This represents a $2.22 annualized dividend and a dividend yield of 6.42%. Enbridge’s dividend payout ratio is currently 131.82%.
In other Enbridge news, insider Albert Monaco bought 7,569 shares of Enbridge stock in a transaction dated Tuesday, December 4th. The stock was bought at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the acquisition, the insider now directly owns 67,329 shares in the company, valued at approximately $2,950,356.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Byron C. Neiles sold 64,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $43.10, for a total value of $2,758,400.00. Following the completion of the transaction, the insider now directly owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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