Harbor Advisory Corp MA Sells 6,574 Shares of Enbridge Inc. (NYSE:ENB)

Harbor Advisory Corp MA cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,284 shares of the pipeline company’s stock after selling 6,574 shares during the period. Harbor Advisory Corp MA’s holdings in Enbridge were worth $3,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge in the fourth quarter worth $25,000. Baystate Wealth Management LLC raised its stake in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge during the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. grew its stake in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in Enbridge during the 4th quarter valued at approximately $34,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB stock traded up $0.04 during midday trading on Monday, hitting $35.86. 2,286,605 shares of the stock traded hands, compared to its average volume of 5,724,601. The stock’s fifty day simple moving average is $35.19 and its 200-day simple moving average is $34.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The firm has a market cap of $76.24 billion, a P/E ratio of 17.06, a PEG ratio of 3.39 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.62 billion. On average, analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.55%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENB. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.