Burney Co. Boosts Stake in Enbridge Inc. (NYSE:ENB)

Burney Co. increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,669 shares of the pipeline company’s stock after acquiring an additional 300 shares during the period. Burney Co.’s holdings in Enbridge were worth $283,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% in 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. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC grew its holdings 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 worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of Enbridge in the third quarter worth $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $44.53 on Friday. The firm has a market cap of $97.00 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 4.00 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. The business has a 50-day moving average price of $42.75 and a 200-day moving average price of $40.54. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analysts Set New Price Targets

Several research firms have issued reports on ENB. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities began coverage on Enbridge in a report on Wednesday. They set a “buy” rating for the company. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

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.