Enbridge Inc. (NYSE:ENB) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 70.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,296,374 shares of the pipeline company’s stock after buying an additional 536,818 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Enbridge worth $52,648,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. McIlrath & Eck LLC lifted its holdings in shares of 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 during the period. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its holdings in shares of 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 during the period. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on ENB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Enbridge stock opened at $43.57 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a fifty day moving average of $42.51 and a two-hundred day moving average of $40.23. The company has a market capitalization of $94.91 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the business posted $0.46 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.03 EPS 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 paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

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.