Burkett Financial Services LLC Has $57,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Burkett Financial Services LLC lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,397 shares of the pipeline company’s stock after selling 549 shares during the quarter. Burkett Financial Services LLC’s holdings in Enbridge were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank lifted its position in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after buying an additional 257 shares during the last quarter. Rockwood Wealth Management LLC lifted its stake in shares of Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 298 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after buying an additional 298 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in Enbridge by 3.7% during the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 314 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock traded up $0.03 on Wednesday, hitting $40.64. 545,992 shares of the stock were exchanged, compared to its average volume of 5,045,035. The firm’s 50 day moving average is $39.85 and its two-hundred day moving average is $37.24. Enbridge Inc. has a one year low of $31.31 and a one year high of $41.35. The firm has a market capitalization of $86.72 billion, a PE ratio of 20.62, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.58%. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.50.

About Enbridge

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.