Enbridge Inc. (NYSE:ENB) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,987 shares of the pipeline company's stock after selling 22,881 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Enbridge were worth $3,648,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock valued at $52,880,000 after purchasing an additional 319,907 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after purchasing an additional 15,207 shares during the period. Finally, Stonegate Investment Group LLC raised its stake in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock valued at $1,374,000 after purchasing an additional 13,515 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENB shares. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating for the company. Finally, TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $63.00.

Enbridge Stock Performance

Enbridge stock traded up $0.28 during mid-day trading on Friday, reaching $45.14. The company's stock had a trading volume of 1,180,967 shares, compared to its average volume of 3,936,158. The firm has a market cap of $98.33 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 4.15 and a beta of 0.93. The business has a 50 day moving average price of $42.93 and a 200-day moving average price of $40.79. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the company posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal 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 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is 124.07%.

Enbridge Company 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.