Columbus Macro LLC Has $11.69 Million Holdings in Enbridge Inc. (NYSE:ENB)

Columbus Macro LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 532.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 275,629 shares of the pipeline company’s stock after purchasing an additional 232,064 shares during the quarter. Enbridge accounts for about 1.6% of Columbus Macro LLC’s investment portfolio, making the stock its 6th biggest position. Columbus Macro LLC’s holdings in Enbridge were worth $11,694,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. McIlrath & Eck LLC grew its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge during the 4th quarter valued at about $29,000. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Enbridge Price Performance

NYSE:ENB opened at $42.94 on Tuesday. The company has a market capitalization of $93.54 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 4.02 and a beta of 0.94. The company has a 50-day moving average of $43.11 and a 200-day moving average of $41.22. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.24%. Enbridge’s payout ratio is 121.76%.

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.