Enbridge Inc. (NYSE:ENB) Stock Holdings Increased by Dupree Financial Group LLC

Dupree Financial Group LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 504,381 shares of the pipeline company’s stock after buying an additional 4,663 shares during the period. Enbridge makes up approximately 9.8% of Dupree Financial Group LLC’s holdings, making the stock its largest holding. Dupree Financial Group LLC’s holdings in Enbridge were worth $21,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENB. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter valued at $29,000. Grove Bank & Trust increased its position in Enbridge by 56.7% during 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 raised its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge in the third quarter valued at $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” 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 set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Down 0.7 %

ENB opened at $42.94 on Tuesday. The stock has a market capitalization of $93.54 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. 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 business has a 50-day moving average of $43.11 and a two-hundred day moving average of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued 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 6.24%. 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.