Enbridge Inc. (NYSE:ENB) Stock Position Lifted by Wealth Quarterback LLC

Wealth Quarterback LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,900 shares of the pipeline company’s stock after purchasing an additional 744 shares during the quarter. Wealth Quarterback LLC’s holdings in Enbridge were worth $335,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. apricus wealth LLC increased its position in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of 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 buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares during the last quarter. Eagle Bay Advisors LLC raised its position in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 5.1 %

Shares of ENB stock opened at $43.13 on Monday. The firm’s fifty day simple moving average is $43.33 and its 200 day simple moving average is $41.76. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

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.