Abound Financial LLC Makes New $822,000 Investment in Enbridge Inc. (NYSE:ENB)

Abound Financial LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 19,371 shares of the pipeline company’s stock, valued at approximately $822,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in Enbridge in the fourth quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in Enbridge in the third quarter valued at $35,000. Darwin Wealth Management LLC purchased a new stake in Enbridge in the third quarter valued at $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.6 %

NYSE:ENB opened at $41.74 on Friday. The stock has a 50-day simple moving average of $43.35 and a 200-day simple moving average of $41.89. The stock has a market cap of $90.94 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. 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 quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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 return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.64 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed 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. 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 (DPR) is 155.81%.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target 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.