BankPlus Wealth Management LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

BankPlus Wealth Management LLC purchased a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,375 shares of the pipeline company's stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC increased its stake in 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 buying an additional 295 shares during the period. Albion Financial Group UT bought a new position in shares of Enbridge during the 4th quarter valued at about $29,000. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ENB. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.00.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.20 during trading on Tuesday, reaching $44.51. 3,230,781 shares of the stock traded hands, compared to its average volume of 3,952,177. The company has a 50-day moving average of $43.03 and a 200-day moving average of $40.99. The stock has a market capitalization of $96.94 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 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 posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the company earned $0.46 EPS. Analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. Enbridge's payout ratio is 121.76%.

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.