690 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Albion Financial Group UT

Albion Financial Group UT purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 690 shares of the pipeline company’s stock, valued at approximately $29,000.

A number of other large investors have also added to or reduced their stakes in ENB. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the second quarter valued at $28,000. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% in the 3rd 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 last quarter. MFA Wealth Advisors LLC raised its position in shares of Enbridge by 55.6% during 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 shares of Enbridge in the 3rd quarter valued at about $35,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Price Performance

ENB opened at $44.77 on Thursday. The business has a fifty day moving average of $42.85 and a 200 day moving average of $40.73. The stock has a market cap of $97.53 billion, a P/E ratio of 20.73, a PEG ratio of 4.13 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

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.