Westbourne Investments Inc. acquired a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,117 shares of the pipeline company's stock, valued at approximately $2,042,000. Enbridge makes up 1.2% of Westbourne Investments Inc.'s holdings, making the stock its 22nd biggest position.
Other large investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its stake in shares of Enbridge by 74.9% during 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 in the last quarter. Albion Financial Group UT purchased a new position in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC increased its holdings in Enbridge by 47.8% during 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 period. GeoWealth Management LLC raised its position in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings 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 buying an additional 580 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ENB has been the topic of several research reports. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating for the company. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.00.
Read Our Latest Stock Report on ENB
Enbridge Stock Up 0.8 %
Shares of NYSE:ENB traded up $0.38 during trading on Friday, reaching $46.86. The stock had a trading volume of 3,024,607 shares, compared to its average volume of 4,178,970. The firm's 50-day simple moving average is $43.82 and its 200 day simple moving average is $43.14. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The company has a market capitalization of $102.16 billion, a P/E ratio of 27.24, a PEG ratio of 3.92 and a beta of 0.80.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 EPS 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 5.80%. Enbridge's dividend payout ratio (DPR) is 157.56%.
About Enbridge
(
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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