Cary Street Partners Financial LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,500 shares of the pipeline company's stock, valued at approximately $403,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Albion Financial Group UT acquired a new position in shares of Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC grew its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC grew its stake in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Enbridge by 149.9% in 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 during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Enbridge in the 4th quarter worth approximately $42,000. 54.60% of the stock is owned by institutional investors.
Enbridge Price Performance
Shares of NYSE:ENB traded up $0.03 during midday trading on Tuesday, reaching $44.58. 11,763,421 shares of the company's stock were exchanged, compared to its average volume of 4,149,851. The company's 50 day simple moving average is $44.28 and its two-hundred day simple moving average is $43.35. The firm has a market capitalization of $97.19 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08. 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 - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.09%. Enbridge's dividend payout ratio is presently 139.69%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday. Raymond James raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and a consensus price target of $67.00.
Check Out Our Latest Research Report on ENB
Enbridge Profile
(
Free Report)
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.
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