Focus Partners Wealth Acquires 413,875 Shares of Enbridge Inc. (NYSE:ENB)

Focus Partners Wealth grew its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 774.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,349 shares of the pipeline company's stock after buying an additional 413,875 shares during the quarter. Focus Partners Wealth's holdings in Enbridge were worth $19,843,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Albion Financial Group UT bought a new stake in Enbridge in the 4th quarter worth $29,000. Wintrust Investments LLC lifted its holdings in 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 buying an additional 238 shares during the period. GeoWealth Management LLC grew its position 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 buying an additional 611 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after buying an additional 580 shares during the period. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge during the fourth quarter valued at approximately $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.1%

NYSE:ENB traded up $0.03 during mid-day trading on Thursday, hitting $44.90. 3,616,113 shares of the company's stock were exchanged, compared to its average volume of 4,117,655. 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 company has a market cap of $97.88 billion, a PE ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84. The business has a fifty day moving average price of $44.39 and a 200 day moving average price of $43.37. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) 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 business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued 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 annualized dividend and a yield of 6.05%. Enbridge's payout ratio is 139.69%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ENB. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge has an average 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.