Simmons Bank Acquires 270 Shares of Enbridge Inc. (NYSE:ENB)

Simmons Bank lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,558 shares of the pipeline company’s stock after acquiring an additional 270 shares during the period. Simmons Bank’s holdings in Enbridge were worth $915,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ENB. 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 acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge in the 4th quarter valued at about $29,000. Fortitude Family Office LLC bought a new position in shares of Enbridge in the 3rd quarter valued at about $35,000. Darwin Wealth Management LLC bought a new position in shares of Enbridge in the 3rd quarter valued at about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

Shares of NYSE ENB opened at $41.78 on Thursday. The company has a market cap of $91.04 billion, a P/E ratio of 24.29, a PEG ratio of 3.92 and a beta of 0.94. The firm has a 50-day simple moving average of $43.38 and a two-hundred day simple moving average of $41.95. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. 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 posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current 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 paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 155.81%.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.00.

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.