Atomi Financial Group Inc. Acquires 2,776 Shares of Enbridge Inc. (NYSE:ENB)

Atomi Financial Group Inc. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,601 shares of the pipeline company’s stock after buying an additional 2,776 shares during the period. Atomi Financial Group Inc.’s holdings in Enbridge were worth $1,214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after buying an additional 240 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after buying an additional 246 shares in the last quarter. Associated Banc Corp grew its holdings in Enbridge by 3.6% during the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 248 shares during the last quarter. Finally, Hobbs Group Advisors LLC grew its stake in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 1.9 %

NYSE:ENB opened at $45.35 on Wednesday. The stock’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $40.66. The firm has a market capitalization of $98.79 billion, a P/E ratio of 21.00, a P/E/G ratio of 4.13 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations 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 earned $0.46 earnings per share. Equities 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. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.91%. 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.