Morgan Dempsey Capital Management LLC Sells 400 Shares of Enbridge Inc. (NYSE:ENB)

Morgan Dempsey Capital Management LLC cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 35.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 738 shares of the pipeline company’s stock after selling 400 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Enbridge were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. apricus wealth LLC boosted its holdings in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC boosted its holdings in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares during the period. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Enbridge Price Performance

NYSE:ENB opened at $42.73 on Friday. The company has a 50-day moving average of $43.42 and a 200-day moving average of $42.00. The company has a market capitalization of $93.11 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 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.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

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.