St. James Investment Company LLC Lowers Stake in Enbridge Inc $ENB

St. James Investment Company LLC trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 668,460 shares of the pipeline company’s stock after selling 58,021 shares during the quarter. Enbridge comprises 5.3% of St. James Investment Company LLC’s holdings, making the stock its 7th biggest holding. St. James Investment Company LLC’s holdings in Enbridge were worth $33,730,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Arkadios Wealth Advisors lifted its holdings in Enbridge by 19.9% during the third quarter. Arkadios Wealth Advisors now owns 17,101 shares of the pipeline company’s stock valued at $863,000 after purchasing an additional 2,837 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its holdings in shares of Enbridge by 298.5% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 39,217 shares of the pipeline company’s stock worth $1,979,000 after acquiring an additional 29,377 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Enbridge by 1.1% in the third quarter. Verdence Capital Advisors LLC now owns 44,009 shares of the pipeline company’s stock valued at $2,080,000 after purchasing an additional 474 shares in the last quarter. Tradewinds LLC. purchased a new position in shares of Enbridge in the third quarter valued at $520,000. Finally, HHM Wealth Advisors LLC raised its stake in shares of Enbridge by 10.8% during the 3rd quarter. HHM Wealth Advisors LLC now owns 2,632 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 257 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 1.6%

ENB stock opened at $47.57 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company’s 50 day moving average price is $47.46 and its two-hundred day moving average price is $47.38. The company has a market capitalization of $103.79 billion, a PE ratio of 26.14 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 8.2%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 147.80%.

Analysts Set New Price Targets

Several brokerages have commented on ENB. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Royal Bank Of Canada raised their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.