19,371 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Abound Financial LLC

Abound Financial LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,371 shares of the pipeline company's stock, valued at approximately $822,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. apricus wealth LLC increased its position in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $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 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock valued at $297,000 after buying an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.13 on Wednesday, hitting $41.78. The stock had a trading volume of 3,435,173 shares, compared to its average volume of 4,460,276. The firm's 50 day moving average price is $43.35 and its 200-day moving average price is $41.96. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a market capitalization of $91.04 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share 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 given 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 yield of 6.42%. Enbridge's dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analyst Weigh In

ENB has been the topic of several recent research reports. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.00.

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.