Asset Planning Inc Invests $72,000 in Enbridge Inc. (NYSE:ENB)

Asset Planning Inc acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,707 shares of the pipeline company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Enbridge during the second quarter worth $303,000. Creative Planning lifted its position in shares of Enbridge by 5.9% in the 3rd quarter. Creative Planning now owns 241,572 shares of the pipeline company’s stock worth $9,810,000 after buying an additional 13,455 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of Enbridge by 513.1% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 6,131 shares of the pipeline company’s stock worth $249,000 after buying an additional 5,131 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Enbridge during the 3rd quarter valued at about $227,000. Finally, Cornerstone Wealth Management LLC raised its stake in Enbridge by 2.2% during the third quarter. Cornerstone Wealth Management LLC now owns 29,276 shares of the pipeline company’s stock worth $1,189,000 after acquiring an additional 632 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ENB shares. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $45.59 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $99.32 billion, a PE ratio of 21.11, a P/E/G ratio of 4.08 and a beta of 0.94. The stock has a 50 day simple moving average of $43.30 and a 200-day simple moving average of $41.63. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.88%. Enbridge’s payout ratio is 121.76%.

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.