Elite Financial Inc. Invests $601,000 in Enbridge Inc. (NYSE:ENB)

Elite Financial Inc. purchased a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,174 shares of the pipeline company's stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the fourth 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 period. GeoWealth Management LLC increased its stake in Enbridge by 436.4% in the fourth 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 period. Capital A Wealth Management LLC purchased a new stake in Enbridge in the fourth quarter worth $39,000. Hopwood Financial Services Inc. purchased a new stake in Enbridge in the fourth quarter worth $42,000. Finally, Vision Financial Markets LLC purchased a new stake in Enbridge in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 1.4%

ENB stock traded up $0.65 during trading on Friday, reaching $46.50. 4,106,198 shares of the company traded hands, compared to its average volume of 4,065,434. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08. The business has a 50 day simple moving average of $44.93 and a 200 day simple moving average of $43.73. The company has a market capitalization of $101.37 billion, a price-to-earnings 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 quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter last year, the company earned $0.92 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENB. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Enbridge 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.