Allworth Financial LP Purchases 58,307 Shares of Enbridge Inc. (NYSE:ENB)

Allworth Financial LP raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 516.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,604 shares of the pipeline company’s stock after acquiring an additional 58,307 shares during the period. Allworth Financial LP’s holdings in Enbridge were worth $3,115,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $29,000. MFA Wealth Advisors LLC boosted its stake 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 buying an additional 280 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Enbridge in the third quarter valued at approximately $35,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Enbridge in the third quarter valued at approximately $37,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Down 5.1 %

NYSE ENB opened at $43.13 on Tuesday. The business has a fifty day moving average price of $43.33 and a two-hundred day moving average price of $41.76. 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 fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock has a market capitalization of $93.95 billion, a PE ratio of 19.97, a PEG ratio of 4.08 and a beta of 0.94.

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 the consensus estimate of $0.52 by $0.23. The company 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 period in the prior year, the business earned $0.64 earnings per share. Equities analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business 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 is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. Enbridge’s dividend payout ratio (DPR) is presently 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.