Fiduciary Group LLC Buys Shares of 8,239 Enbridge Inc. (NYSE:ENB)

Fiduciary Group LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,239 shares of the pipeline company’s stock, valued at approximately $297,000.

Other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Enbridge during the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enbridge during the 4th quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its stake in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Enbridge in the 4th quarter valued at about $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.4 %

ENB stock opened at $35.97 on Tuesday. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The business’s 50 day simple moving average is $35.22 and its 200 day simple moving average is $34.85. 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 firm has a market capitalization of $76.46 billion, a PE ratio of 17.13, a PEG ratio of 3.39 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.53%. Enbridge’s dividend payout ratio (DPR) is 129.05%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $55.20.

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.