BankPlus Wealth Management LLC Makes New $567,000 Investment in Enbridge Inc. (NYSE:ENB)

BankPlus Wealth Management LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,375 shares of the pipeline company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Foundations Investment Advisors LLC boosted its position in Enbridge by 17.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 55,842 shares of the pipeline company’s stock valued at $2,369,000 after buying an additional 8,151 shares during the period. Parsons Capital Management Inc. RI lifted its stake in shares of Enbridge by 202.5% in the 4th quarter. Parsons Capital Management Inc. RI now owns 58,068 shares of the pipeline company’s stock valued at $2,464,000 after acquiring an additional 38,871 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Enbridge by 3.7% during the 4th quarter. Cornerstone Wealth Group LLC now owns 16,494 shares of the pipeline company’s stock valued at $700,000 after acquiring an additional 595 shares during the period. Blue Trust Inc. boosted its holdings in Enbridge by 15.9% during the 4th quarter. Blue Trust Inc. now owns 15,922 shares of the pipeline company’s stock valued at $647,000 after acquiring an additional 2,186 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Enbridge during the 4th quarter worth approximately $372,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENB. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three 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 presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Down 0.8 %

Shares of Enbridge stock opened at $44.72 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $97.41 billion, a P/E ratio of 20.70, a PEG ratio of 4.15 and a beta of 0.93. The company’s fifty day simple moving average is $42.99 and its two-hundred day simple moving average is $40.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. Research analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company 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 $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is presently 124.07%.

Enbridge 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.