Unique Wealth Strategies LLC Buys New Shares in Enbridge Inc. (NYSE:ENB)

Unique Wealth Strategies LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel.com reports. The fund bought 13,041 shares of the pipeline company’s stock, valued at approximately $470,000.

Other hedge funds have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge in the fourth quarter valued at $25,000. Baystate Wealth Management LLC boosted its holdings in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Enbridge in the fourth quarter valued at $28,000. Financial Gravity Asset Management Inc. boosted its holdings in Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new stake in Enbridge in the fourth quarter valued at $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

Enbridge stock traded down $0.44 during midday trading on Friday, reaching $35.82. The company had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The company has a market capitalization of $76.15 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.36 and a beta of 0.84. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The firm’s fifty day simple moving average is $35.19 and its 200-day simple moving average is $34.82. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, equities analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

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.