O Keefe Stevens Advisory Inc. Grows Stock Position in Enbridge Inc. (NYSE:ENB)

O Keefe Stevens Advisory Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 40.0% in the 4th quarter, HoldingsChannel reports. The fund owned 21,230 shares of the pipeline company’s stock after buying an additional 6,064 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in Enbridge were worth $901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Merit Financial Group LLC lifted its position in shares of Enbridge by 12.5% in the 4th quarter. Merit Financial Group LLC now owns 29,073 shares of the pipeline company’s stock worth $1,234,000 after purchasing an additional 3,232 shares during the period. Procyon Advisors LLC lifted its stake in shares of Enbridge by 4.7% in the 4th quarter. Procyon Advisors LLC now owns 123,810 shares of the pipeline company’s stock valued at $5,253,000 after purchasing an additional 5,609 shares during the period. Woodstock Corp grew its stake in Enbridge by 2.5% in the fourth quarter. Woodstock Corp now owns 48,052 shares of the pipeline company’s stock worth $2,039,000 after purchasing an additional 1,150 shares during the period. Hennessy Advisors Inc. lifted its position in Enbridge by 0.9% during the fourth quarter. Hennessy Advisors Inc. now owns 579,465 shares of the pipeline company’s stock valued at $24,587,000 after buying an additional 5,100 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of Enbridge by 12.0% during the 4th quarter. Ritholtz Wealth Management now owns 63,812 shares of the pipeline company’s stock valued at $2,708,000 after buying an additional 6,849 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

Shares of ENB opened at $44.53 on Friday. The business’s 50 day simple moving average is $42.71 and its 200-day simple moving average is $40.47. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.90. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

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

Enbridge Cuts Dividend

The company 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. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. Enbridge’s dividend payout ratio is presently 121.76%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

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.