Dividend Assets Capital LLC Purchases 11,446 Shares of Enbridge Inc. (NYSE:ENB)

Dividend Assets Capital LLC increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,877 shares of the pipeline company’s stock after purchasing an additional 11,446 shares during the quarter. Enbridge makes up 1.6% of Dividend Assets Capital LLC’s portfolio, making the stock its 25th largest holding. Dividend Assets Capital LLC’s holdings in Enbridge were worth $8,311,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in shares of Enbridge during the 4th quarter valued at about $85,000. Allianz Asset Management GmbH raised its position in Enbridge by 9.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,148,864 shares of the pipeline company’s stock worth $48,736,000 after purchasing an additional 96,591 shares in the last quarter. Boston Financial Mangement LLC bought a new position in Enbridge during the fourth quarter worth about $224,000. First Bank & Trust boosted its holdings in Enbridge by 0.5% during the fourth quarter. First Bank & Trust now owns 88,171 shares of the pipeline company’s stock valued at $3,741,000 after purchasing an additional 451 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Enbridge by 1.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 50,095 shares of the pipeline company’s stock valued at $2,126,000 after purchasing an additional 841 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ENB. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.6 %

NYSE ENB opened at $41.74 on Friday. The stock’s 50 day simple moving average is $43.35 and its 200 day simple moving average is $41.87. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm has a market cap of $90.94 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.95 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is presently 155.81%.

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.