Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,826 shares of the pipeline company’s stock after purchasing an additional 2,005 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Enbridge were worth $769,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Synovus Financial Corp increased its position in Enbridge by 3.7% in the third quarter. Synovus Financial Corp now owns 286,618 shares of the pipeline company’s stock worth $10,068,000 after purchasing an additional 10,328 shares during the period. Full Sail Capital LLC bought a new position in Enbridge during the third quarter worth about $237,000. Sound Income Strategies LLC boosted its holdings in Enbridge by 9.4% during the fourth quarter. Sound Income Strategies LLC now owns 55,483 shares of the pipeline company’s stock worth $2,207,000 after buying an additional 4,760 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Enbridge by 3.5% during the third quarter. Commonwealth Equity Services LLC now owns 435,376 shares of the pipeline company’s stock worth $15,273,000 after buying an additional 14,542 shares during the last quarter. Finally, Private Asset Management Inc. bought a new position in Enbridge during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 53.53% of the company’s stock.
NYSE:ENB opened at $41.09 on Wednesday. Enbridge Inc has a fifty-two week low of $32.23 and a fifty-two week high of $41.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.50. The stock has a market capitalization of $83.11 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.64. The business’s 50-day simple moving average is $39.79 and its 200-day simple moving average is $36.60.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the business posted $0.55 EPS. On average, research analysts expect that Enbridge Inc will post 2.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.6119 per share. This represents a $2.45 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Thursday, February 13th. This is a boost from Enbridge’s previous quarterly dividend of $0.56. Enbridge’s payout ratio is 108.78%.
ENB has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Enbridge in a report on Monday, January 6th. They set an “equal weight” rating and a $50.00 target price on the stock. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on Enbridge in a report on Thursday, December 5th. They set a “hold” rating and a $54.00 target price on the stock. Evercore ISI restated a “hold” rating and set a $48.00 target price on shares of Enbridge in a report on Tuesday, November 12th. Finally, Royal Bank of Canada set a $56.00 target price on Enbridge and gave the stock an “outperform” rating in a report on Saturday, December 21st. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.90.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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