Enbridge Inc. (NYSE:ENB) Shares Purchased by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,754 shares of the pipeline company’s stock after buying an additional 1,917 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Enbridge were worth $371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ENB. McIlrath & Eck LLC raised its position 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 during the last quarter. Albion Financial Group UT purchased a new position in Enbridge during the fourth quarter worth $29,000. Grove Bank & Trust raised its holdings 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 acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its position 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 valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the third quarter valued at $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of several analyst reports. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued 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 set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 0.7 %

NYSE ENB opened at $44.51 on Friday. The company has a 50-day moving average of $43.18 and a 200-day moving average of $41.36. 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 Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a market cap of $96.96 billion, a P/E ratio of 20.61, a P/E/G ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 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.