Pointe Capital Management LLC Acquires Shares of 5,612 Enbridge Inc. (NYSE:ENB)

Pointe Capital Management LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,612 shares of the pipeline company’s stock, valued at approximately $203,000.

A number of other large investors have also recently made changes to their positions in ENB. Cambridge Investment Research Advisors Inc. grew its stake in shares of Enbridge by 1.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 308,118 shares of the pipeline company’s stock valued at $10,226,000 after buying an additional 5,202 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Enbridge by 9.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,405 shares of the pipeline company’s stock valued at $1,176,000 after acquiring an additional 3,103 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Enbridge by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 5,372,879 shares of the pipeline company’s stock worth $178,326,000 after purchasing an additional 408,029 shares during the period. Bailard Inc. lifted its position in shares of Enbridge by 21.9% during the third quarter. Bailard Inc. now owns 21,910 shares of the pipeline company’s stock worth $727,000 after purchasing an additional 3,941 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Enbridge by 4.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 416,100 shares of the pipeline company’s stock valued at $13,865,000 after purchasing an additional 19,100 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Down 0.2 %

Shares of ENB traded down $0.08 during mid-day trading on Friday, hitting $36.34. The company’s stock had a trading volume of 4,208,004 shares, compared to its average volume of 7,166,785. The firm has a market capitalization of $77.26 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 3.44 and a beta of 0.83. The company’s 50-day moving average is $35.32 and its 200-day moving average is $34.91. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. On average, equities research analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.45%. Enbridge’s payout ratio is currently 129.05%.

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.