Burford Brothers Inc. Invests $203,000 in Enbridge Inc. (NYSE:ENB)

Burford Brothers Inc. acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,789 shares of the pipeline company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of the business. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Enbridge by 1.0% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 169,421 shares of the pipeline company’s stock worth $7,189,000 after acquiring an additional 1,720 shares in the last quarter. Golden State Equity Partners boosted its position in Enbridge by 334.4% during the fourth quarter. Golden State Equity Partners now owns 8,132 shares of the pipeline company’s stock worth $345,000 after purchasing an additional 6,260 shares during the period. PBMares Wealth Management LLC grew its holdings in Enbridge by 7.2% during the fourth quarter. PBMares Wealth Management LLC now owns 5,303 shares of the pipeline company’s stock valued at $225,000 after purchasing an additional 356 shares during the last quarter. Five Oceans Advisors raised its position in shares of Enbridge by 10.8% in the fourth quarter. Five Oceans Advisors now owns 7,279 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 708 shares during the period. Finally, Symphony Financial Ltd. Co. lifted its stake in shares of Enbridge by 7.4% in the fourth quarter. Symphony Financial Ltd. Co. now owns 8,868 shares of the pipeline company’s stock worth $402,000 after buying an additional 612 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Down 2.7 %

ENB stock opened at $43.29 on Monday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market cap of $94.31 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The business’s 50-day simple moving average is $43.11 and its 200 day simple moving average is $41.19.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the firm earned $0.46 EPS. On average, research analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. Enbridge’s dividend payout ratio is currently 121.76%.

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.