Anchor Pointe Wealth Management LLC Makes New $233,000 Investment in Enbridge Inc. (NYSE:ENB)

Anchor Pointe Wealth Management LLC bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to its most recent filing with the SEC. The firm bought 5,535 shares of the pipeline company's stock, valued at approximately $233,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC raised its holdings in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after buying an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Deutsche Bank AG increased its holdings in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth approximately $909,415,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of "Hold" and an average price target of $67.00.

Enbridge Trading Up 1.4%

Shares of ENB traded up $0.65 during midday trading on Friday, hitting $46.50. The stock had a trading volume of 4,106,198 shares, compared to its average volume of 4,065,431. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08. The firm has a market cap of $101.37 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock's 50 day moving average is $44.89 and its 200 day moving average is $43.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate 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 posted $0.92 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 5.84%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

Enbridge 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.