FourThought Financial Partners LLC Acquires New Shares in Enbridge Inc. (NYSE:ENB)

FourThought Financial Partners LLC acquired a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,617 shares of the pipeline company's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC raised its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge in the 4th quarter worth $29,000. Fortitude Family Office LLC acquired a new position in shares of Enbridge in the 3rd quarter worth $35,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge in the 3rd quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after acquiring an additional 580 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ENB. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Stock Up 2.4 %

Shares of ENB stock traded up $1.00 on Friday, reaching $42.73. 4,436,885 shares of the company's stock traded hands, compared to its average volume of 4,407,628. Enbridge Inc. has a 12-month low of $32.85 and a 12-month 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. The company has a market capitalization of $93.11 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The business's 50 day moving average price is $43.42 and its two-hundred day moving average price is $41.98.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.27%. Enbridge's payout ratio is 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.