Gilman Hill Asset Management LLC Makes New $249,000 Investment in Enbridge Inc. (NYSE:ENB)

Gilman Hill Asset Management LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,863 shares of the pipeline company’s stock, valued at approximately $249,000.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the second quarter valued at about $28,000. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of Enbridge during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Up 1.1 %

ENB opened at $44.53 on Tuesday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.90. 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 stock has a 50-day moving average of $42.75 and a 200 day moving average of $40.60. The firm has a market cap of $97.00 billion, a P/E ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

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.