Kathmere Capital Management LLC Buys New Shares in Enbridge Inc. (NYSE:ENB)

Kathmere Capital Management LLC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,854 shares of the pipeline company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter worth $28,000. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Grove Bank & Trust raised its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its stake 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 buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Enbridge in the third quarter worth about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, TD Securities started coverage on Enbridge in a report on Wednesday. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $43.98 on Friday. The company has a market capitalization of $95.79 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 4.00 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. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.74. The business’s 50-day moving average price is $42.68 and its two-hundred day moving average price is $40.45.

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, 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 firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

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.