Atlantic Family Wealth LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Atlantic Family Wealth LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel.com reports. The firm bought 7,607 shares of the pipeline company’s stock, valued at approximately $323,000. Enbridge accounts for approximately 0.4% of Atlantic Family Wealth LLC’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MONECO Advisors LLC boosted its stake in Enbridge by 5.8% in the fourth quarter. MONECO Advisors LLC now owns 15,922 shares of the pipeline company’s stock valued at $676,000 after buying an additional 866 shares in the last quarter. WESPAC Advisors LLC lifted its holdings in shares of Enbridge by 19.1% in the fourth quarter. WESPAC Advisors LLC now owns 19,341 shares of the pipeline company’s stock worth $821,000 after acquiring an additional 3,102 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Enbridge by 14.1% in the 4th quarter. Wealthspire Advisors LLC now owns 7,065 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 873 shares in the last quarter. Abound Financial LLC bought a new stake in shares of Enbridge during the 4th quarter valued at approximately $822,000. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of Enbridge by 0.6% during the 4th quarter. Pinnacle Financial Partners Inc now owns 189,386 shares of the pipeline company’s stock valued at $7,721,000 after purchasing an additional 1,142 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.6 %

ENB opened at $41.74 on Friday. 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 Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company’s 50 day moving average price is $43.35 and its two-hundred day moving average price is $41.89. The firm has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts predict 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 $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. Enbridge’s payout ratio is 155.81%.

Wall Street Analyst Weigh In

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

About Enbridge

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.