Enbridge Inc. (NYSE:ENB) Shares Purchased by MONECO Advisors LLC

MONECO Advisors LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,922 shares of the pipeline company’s stock after buying an additional 866 shares during the period. MONECO Advisors LLC’s holdings in Enbridge were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. McIlrath & Eck LLC raised its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge during the third quarter worth approximately $35,000. Darwin Wealth Management LLC purchased a new stake in shares of Enbridge during the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.6 %

Shares of NYSE:ENB opened at $41.74 on Monday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $90.94 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The firm has a fifty day moving average price of $43.35 and a 200 day moving average price of $41.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate 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 firm earned $0.64 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

Wall Street Analyst Weigh In

ENB has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective 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. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.00.

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.