Forvis Mazars Wealth Advisors LLC Has $376,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Forvis Mazars Wealth Advisors LLC decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% in the 4th quarter, HoldingsChannel reports. The firm owned 8,866 shares of the pipeline company’s stock after selling 305 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Enbridge were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several equities research analysts have issued reports on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Down 0.6 %

ENB opened at $41.52 on Tuesday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization of $90.47 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.92 and a beta of 0.94. The stock has a fifty day moving average of $43.35 and a 200-day moving average of $41.94.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.