Pekin Hardy Strauss Inc. Sells 624 Shares of Enbridge Inc. (NYSE:ENB)

Pekin Hardy Strauss Inc. lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,384 shares of the pipeline company’s stock after selling 624 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Enbridge were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC boosted its position in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the fourth quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. increased its position in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Enbridge during the 4th quarter worth approximately $34,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

NYSE:ENB opened at $35.56 on Wednesday. The firm’s fifty day moving average price is $35.24 and its two-hundred day moving average price is $34.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The company has a market cap of $75.60 billion, a P/E ratio of 16.93, a P/E/G ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Equities analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 7.62%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Profile

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.