8,776 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,776 shares of the pipeline company's stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter worth about $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a 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 for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.00.

Enbridge Trading Up 0.8 %

Shares of Enbridge stock traded up $0.38 during trading hours on Thursday, hitting $44.64. The company's stock had a trading volume of 898,602 shares, compared to its average volume of 3,723,204. 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 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a 50 day moving average of $43.09 and a 200 day moving average of $41.08. The company has a market capitalization of $97.23 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the business posted $0.46 EPS. Analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued 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 6.00%. 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.