Diversify Wealth Management LLC Purchases 5,655 Shares of Enbridge Inc. (NYSE:ENB)

Diversify Wealth Management LLC grew its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,238 shares of the pipeline company's stock after purchasing an additional 5,655 shares during the quarter. Diversify Wealth Management LLC's holdings in Enbridge were worth $1,576,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gilman Hill Asset Management LLC bought a new stake in Enbridge in the 4th quarter valued at $249,000. Client 1ST Advisory Group LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $276,000. Cascade Investment Group Inc. boosted its position in shares of Enbridge by 9.5% in the fourth quarter. Cascade Investment Group Inc. now owns 8,093 shares of the pipeline company's stock valued at $343,000 after acquiring an additional 700 shares during the period. Clarius Group LLC acquired a new position in shares of Enbridge in the fourth quarter valued at about $329,000. Finally, HB Wealth Management LLC increased its position in Enbridge by 90.1% during the fourth quarter. HB Wealth Management LLC now owns 13,933 shares of the pipeline company's stock worth $591,000 after acquiring an additional 6,603 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

ENB traded up $0.84 during trading on Tuesday, hitting $45.35. 7,520,447 shares of the stock traded hands, compared to its average volume of 4,039,558. The business has a 50 day moving average price of $42.79 and a 200 day moving average price of $40.66. The company has a market cap of $98.79 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 4.13 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.85 and a twelve 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.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is 121.76%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports 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. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of "Hold" and a consensus price target of $63.00.

Enbridge Company 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.