FourThought Financial Partners LLC Purchases Shares of 7,617 Enbridge Inc. (NYSE:ENB)

FourThought Financial Partners LLC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,617 shares of the pipeline company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. apricus wealth LLC boosted its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC raised its stake in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC grew its position in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Enbridge by 3.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 242 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.65 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a fifty day moving average of $43.35 and a 200-day moving average of $41.96. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The stock has a market cap of $90.75 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 dividend yield of 6.44%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.