Atlantic Family Wealth LLC Buys Shares of 7,607 Enbridge Inc. (NYSE:ENB)

Atlantic Family Wealth LLC bought a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,607 shares of the pipeline company's stock, valued at approximately $323,000. Enbridge comprises 0.4% of Atlantic Family Wealth LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company's stock valued at $185,655,000 after buying an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after buying an additional 2,668,692 shares in the last quarter. National Bank of Canada FI grew its holdings in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock worth $168,258,000 after acquiring an additional 1,472,789 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented 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. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Enbridge currently has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.13 during midday trading on Wednesday, hitting $41.78. 3,435,260 shares of the stock were exchanged, compared to its average volume of 4,462,486. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average price of $43.35 and a 200-day moving average price of $41.96. The stock has a market cap of $91.04 billion, a P/E ratio of 24.29, a PEG ratio of 3.92 and a beta of 0.94.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is presently 155.81%.

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.