US Asset Management LLC Purchases Shares of 7,043 Enbridge Inc. (NYSE:ENB)

US Asset Management LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 7,043 shares of the pipeline company’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC increased its position in shares of Enbridge by 7.2% in the 4th quarter. Bogart Wealth LLC now owns 7,865 shares of the pipeline company’s stock valued at $283,000 after buying an additional 530 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Enbridge in the 4th quarter valued at $40,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at $77,000. Sovereign Financial Group Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at $222,000. Finally, Apollon Wealth Management LLC increased its position in shares of Enbridge by 9.5% in the 4th quarter. Apollon Wealth Management LLC now owns 51,249 shares of the pipeline company’s stock valued at $1,847,000 after buying an additional 4,454 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.4 %

Shares of Enbridge stock traded up $0.14 during trading hours on Thursday, reaching $37.37. 4,937,123 shares of the company’s stock were exchanged, compared to its average volume of 5,789,466. The company has a 50 day moving average of $35.47 and a two-hundred day moving average of $35.03. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.22. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a market cap of $79.45 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.43 and a beta of 0.87.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.25%. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is 127.14%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge 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.