Cornerstone Financial Partners LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,790 shares of the pipeline company’s stock, valued at approximately $814,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Manhattan Co. grew its stake in Enbridge by 10.1% during the fourth quarter. First Manhattan Co. now owns 152,406 shares of the pipeline company’s stock worth $5,960,000 after purchasing an additional 13,949 shares during the period. Viking Fund Management LLC grew its stake in Enbridge by 1.2% in the fourth quarter. Viking Fund Management LLC now owns 392,500 shares of the pipeline company’s stock valued at $15,351,000 after acquiring an additional 4,500 shares during the period. McCollum Christoferson Group LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $3,653,000. DORCHESTER WEALTH MANAGEMENT Co grew its stake in Enbridge by 10.9% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 40,291 shares of the pipeline company’s stock valued at $1,579,000 after acquiring an additional 3,950 shares during the period. Finally, Heritage Way Advisors LLC grew its stake in Enbridge by 105.7% in the fourth quarter. Heritage Way Advisors LLC now owns 102,688 shares of the pipeline company’s stock valued at $4,016,000 after acquiring an additional 52,778 shares during the period. 62.62% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc (NYSE ENB) traded down $0.06 during mid-day trading on Wednesday, hitting $34.30. The stock had a trading volume of 4,396,153 shares, compared to its average volume of 2,910,000. Enbridge Inc has a 52 week low of $33.26 and a 52 week high of $43.36. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $58,170.00, a price-to-earnings ratio of 22.13, a PEG ratio of 3.15 and a beta of 0.56.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.5278 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio (DPR) is currently 123.87%.
A number of equities research analysts have commented on the company. Morgan Stanley reduced their price objective on Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Canaccord Genuity reissued a “buy” rating and issued a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Bank of America assumed coverage on Enbridge in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Enbridge currently has an average rating of “Hold” and an average price target of $51.25.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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