Allworth Financial LP Acquires 58,307 Shares of Enbridge Inc. (NYSE:ENB)

Allworth Financial LP boosted its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 516.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,604 shares of the pipeline company's stock after buying an additional 58,307 shares during the quarter. Allworth Financial LP's holdings in Enbridge were worth $3,115,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. McIlrath & Eck LLC increased its position in shares of 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 last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter valued at about $29,000. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Enbridge during the 3rd quarter valued at about $35,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Enbridge during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.25 during mid-day trading on Friday, reaching $41.74. 6,521,927 shares of the company traded hands, compared to its average volume of 4,392,050. The company's 50 day moving average price is $43.35 and its 200-day moving average price is $41.87. The firm has a market cap of $90.94 billion, a PE ratio of 24.26, a PEG ratio of 3.95 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.64 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.42%. Enbridge's payout ratio is 155.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set 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 research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of "Hold" and a consensus target price of $67.00.

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.