Enbridge Inc. (NYSE:ENB) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 7,865 shares of the pipeline company’s stock after purchasing an additional 530 shares during the quarter. Bogart Wealth LLC’s holdings in Enbridge were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FORVIS Wealth Advisors LLC lifted its stake in shares of Enbridge by 30.3% in the third quarter. FORVIS Wealth Advisors LLC now owns 13,593 shares of the pipeline company’s stock worth $456,000 after acquiring an additional 3,159 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Enbridge by 14.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,476,004 shares of the pipeline company’s stock valued at $82,179,000 after acquiring an additional 308,620 shares during the last quarter. NBT Bank N A NY bought a new stake in shares of Enbridge in the 3rd quarter worth about $218,000. Park Avenue Securities LLC raised its stake in shares of Enbridge by 9.9% in the 3rd quarter. Park Avenue Securities LLC now owns 22,093 shares of the pipeline company’s stock valued at $736,000 after purchasing an additional 1,991 shares in the last quarter. Finally, Altfest L J & Co. Inc. bought a new position in shares of Enbridge during the third quarter worth about $532,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ENB shares. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

Enbridge stock traded up $0.41 during midday trading on Wednesday, reaching $37.24. 5,838,031 shares of the stock traded hands, compared to its average volume of 5,799,036. The firm has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $35.02. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.22. The firm has a market cap of $79.17 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.43 and a beta of 0.87. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. On average, equities research analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. 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 7.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is presently 127.14%.

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.