Tcfg Wealth Management LLC Raises Position in Enbridge Inc. (NYSE:ENB)

Tcfg Wealth Management LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 37.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,620 shares of the pipeline company’s stock after buying an additional 3,155 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Enbridge were worth $493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC lifted its stake in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the 4th quarter valued at about $29,000. MFA Wealth Advisors LLC lifted its stake in Enbridge by 55.6% in 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. Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter valued at about $35,000. Finally, Darwin Wealth Management LLC purchased a new position in Enbridge in the 3rd quarter valued at about $37,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 5.1 %

Shares of NYSE ENB opened at $43.13 on Friday. The company has a 50 day simple moving average of $43.33 and a 200-day simple moving average of $41.70. The company has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.08 and a beta of 0.94. 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 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the firm earned $0.64 EPS. On average, equities research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared 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 6.21%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.