Enbridge Inc. (NYSE:ENB) Shares Purchased by WealthTrust Axiom LLC

WealthTrust Axiom LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,323 shares of the pipeline company’s stock after acquiring an additional 1,000 shares during the quarter. WealthTrust Axiom LLC’s holdings in Enbridge were worth $588,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge during the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC increased its stake in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. increased its stake in Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $34,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 1.1 %

Shares of NYSE ENB opened at $35.56 on Wednesday. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a market capitalization of $75.60 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 3.40 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm’s 50-day moving average is $35.24 and its two-hundred day moving average is $34.87.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (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 for the quarter, compared to analyst estimates of $9.62 billion. Equities analysts anticipate 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. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.62%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 129.05%.

Analyst Ratings Changes

A number of brokerages have commented on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.