Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in Enbridge Inc. (NYSE:ENB)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,832 shares of the pipeline company’s stock after selling 1,035 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Enbridge were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Enbridge during the 4th quarter worth $25,000. Baystate Wealth Management LLC raised its holdings 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 during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Enbridge during the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. raised its holdings 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 acquiring an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in shares of Enbridge during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Two research 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. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Trading Down 1.2 %

NYSE ENB traded down $0.44 during trading on Friday, hitting $35.82. The stock had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The company has a market capitalization of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average price of $35.19 and a 200 day moving average price of $34.80. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 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 company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, equities research analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. Enbridge’s payout ratio is currently 129.05%.

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.