Rosenberg Matthew Hamilton Buys 1,444 Shares of Enbridge Inc. (NYSE:ENB)

Rosenberg Matthew Hamilton raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 218.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,104 shares of the pipeline company’s stock after buying an additional 1,444 shares during the period. Rosenberg Matthew Hamilton’s holdings in Enbridge were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust raised its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. 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 worth $32,000 after buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge during the 3rd quarter worth $35,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

Shares of ENB stock opened at $44.04 on Wednesday. The stock’s 50-day moving average is $42.62 and its 200 day moving average is $40.42. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market cap of $95.93 billion, a P/E ratio of 20.39, a PEG ratio of 4.14 and a beta of 0.93.

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, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 EPS. Research analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.09%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 124.07%.

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.