Jacobi Capital Management LLC Acquires 1,096 Shares of Enbridge Inc. (NYSE:ENB)

Jacobi Capital Management LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,564 shares of the pipeline company’s stock after purchasing an additional 1,096 shares during the quarter. Jacobi Capital Management LLC’s holdings in Enbridge were worth $1,461,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Tortoise Index Solutions LLC grew its stake in shares of Enbridge by 7.6% during the 4th quarter. Tortoise Index Solutions LLC now owns 1,135,847 shares of the pipeline company’s stock worth $40,913,000 after acquiring an additional 79,904 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $538,000. MGO One Seven LLC raised its holdings in shares of Enbridge by 52.7% in the fourth quarter. MGO One Seven LLC now owns 45,164 shares of the pipeline company’s stock valued at $1,627,000 after purchasing an additional 15,579 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Enbridge by 25.1% in the fourth quarter. Regal Investment Advisors LLC now owns 13,223 shares of the pipeline company’s stock valued at $476,000 after purchasing an additional 2,650 shares during the last quarter. Finally, XML Financial LLC raised its holdings in shares of Enbridge by 5.0% in the fourth quarter. XML Financial LLC now owns 17,401 shares of the pipeline company’s stock valued at $627,000 after purchasing an additional 827 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Hold” and an average target price of $55.20.

Enbridge Trading Down 0.6 %

ENB stock opened at $35.47 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The company has a fifty day moving average price of $35.87 and a two-hundred day moving average price of $35.61. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The stock has a market cap of $75.41 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Equities analysts anticipate that Enbridge Inc. will post 2.11 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

Enbridge 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.