1,119 Shares in Enbridge Inc. (NYSE:ENB) Purchased by EdgeRock Capital LLC

EdgeRock Capital LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,119 shares of the pipeline company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds also recently modified their holdings of ENB. Harbor Investment Advisory LLC raised its position in shares of Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares in the last quarter. Capital Investment Counsel Inc boosted its stake in shares of Enbridge by 5.2% during the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after acquiring an additional 326 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC lifted its holdings in Enbridge by 1.6% in the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.1 %

Shares of ENB stock traded up $0.41 on Wednesday, reaching $37.24. 5,838,031 shares of the stock were exchanged, compared to its average volume of 5,799,036. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.22. The stock has a market cap of $79.17 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $35.41 and a two-hundred day moving average of $35.02.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS 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 firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is currently 127.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENB. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.20.

About Enbridge

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.