Hager Investment Management Services LLC Buys New Stake in Enbridge Inc. (NYSE:ENB)

Hager Investment Management Services LLC bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,330 shares of the pipeline company’s stock, valued at approximately $99,000.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC grew its stake in 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 bought a new position in Enbridge during the fourth quarter valued at $29,000. Grove Bank & Trust lifted its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing 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 $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reiterated 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. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

Enbridge stock opened at $43.73 on Wednesday. The firm has a 50-day moving average price of $43.11 and a 200-day moving average price of $41.27. The firm has a market capitalization of $95.25 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.13%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

About Enbridge

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.