Smith Chas P & Associates PA Cpas Invests $204,000 in Enbridge Inc. (NYSE:ENB)

Smith Chas P & Associates PA Cpas acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,805 shares of the pipeline company’s stock, valued at approximately $204,000.

Other large investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Grove Bank & Trust raised its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in Enbridge in the second quarter valued at approximately $28,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 0.5 %

NYSE:ENB opened at $45.08 on Friday. The stock has a 50-day simple moving average of $42.99 and a 200 day simple moving average of $40.86. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a market cap of $98.19 billion, a PE ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.95%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.