Genesis Private Wealth LLC acquired a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,474 shares of the pipeline company's stock, valued at approximately $317,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Armstrong Advisory Group Inc. boosted 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 valued at $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after buying an additional 240 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 246 shares during the period. Associated Banc Corp boosted its position in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock worth $288,000 after purchasing an additional 248 shares in the last quarter. Finally, Hobbs Group Advisors LLC increased its holdings in shares of Enbridge by 15.1% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company's stock valued at $77,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. 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.com, the stock currently has an average rating of "Hold" and an average target price of $63.00.
Read Our Latest Report on Enbridge
Enbridge Trading Down 1.2 %
NYSE ENB traded down $0.54 on Wednesday, reaching $44.77. The stock had a trading volume of 3,731,236 shares, compared to its average volume of 3,966,511. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average price of $42.85 and a two-hundred day moving average price of $40.73. The firm has a market capitalization of $97.53 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 4.13 and a beta of 0.93.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.
Enbridge Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is presently 121.76%.
About Enbridge
(
Free Report)
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.
Featured Articles
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
