Edge Capital Group LLC Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Edge Capital Group LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,396 shares of the pipeline company’s stock after purchasing an additional 5,275 shares during the quarter. Edge Capital Group LLC’s holdings in Enbridge were worth $1,926,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% during 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 in the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge during the fourth quarter valued at about $29,000. Fortitude Family Office LLC acquired a new position in Enbridge in the 3rd quarter worth approximately $35,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.6 %

Shares of NYSE:ENB opened at $41.74 on Monday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business’s 50 day moving average price is $43.35 and its 200-day moving average price is $41.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is 155.81%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ENB shares. 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 raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus target price of $67.00.

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.