Mirador Capital Partners LP Takes Position in Enbridge Inc. (NYSE:ENB)

Mirador Capital Partners LP bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,951 shares of the pipeline company's stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the 2nd quarter worth $28,000. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Grove Bank & Trust lifted its position 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 in the last quarter. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the third 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 during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the 3rd quarter valued at approximately $35,000. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.8 %

NYSE ENB traded down $0.36 on Thursday, hitting $43.98. 4,936,622 shares of the stock were exchanged, compared to its average volume of 3,386,162. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.74. The firm has a market capitalization of $95.79 billion, a P/E ratio of 20.36, a P/E/G ratio of 4.00 and a beta of 0.93. The stock has a fifty day moving average price of $42.68 and a two-hundred day moving average price of $40.45.

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

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.09%. Enbridge's dividend payout ratio is 121.76%.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. 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 report on Wednesday, December 4th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday. They issued a "buy" rating for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.