Jones Financial Companies Lllp Acquires 366,863 Shares of Enbridge Inc. (NYSE:ENB)

Jones Financial Companies Lllp grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 64.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938,013 shares of the pipeline company’s stock after purchasing an additional 366,863 shares during the period. Jones Financial Companies Lllp’s holdings in Enbridge were worth $39,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC grew 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 acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in shares of Enbridge in the 4th quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in shares of Enbridge in the 3rd quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge during the 4th quarter valued at about $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $42.73 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The business’s fifty day moving average is $43.42 and its 200-day moving average is $42.00. The company has a market cap of $93.11 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio is currently 155.81%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. 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 raised their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price 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.