Enbridge Inc. (NYSE:ENB) Shares Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 145.8% in the fourth quarter, HoldingsChannel reports. The fund owned 21,620 shares of the pipeline company’s stock after acquiring an additional 12,826 shares during the quarter. Accurate Wealth Management LLC’s holdings in Enbridge were worth $940,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC grew its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust increased its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. William B. Walkup & Associates Inc. purchased a new position in Enbridge during the second quarter valued at $28,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge in the third quarter valued at about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.7 %

Shares of NYSE ENB opened at $44.36 on Thursday. The company has a market capitalization of $96.63 billion, a P/E ratio of 20.54, a P/E/G ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a 50 day simple moving average of $42.62 and a 200-day simple moving average of $40.42. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.74.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm earned $0.46 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.04%. Enbridge’s payout ratio is currently 124.07%.

Analyst Upgrades and Downgrades

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

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.