Concurrent Investment Advisors LLC Buys 841 Shares of Enbridge Inc. (NYSE:ENB)

Concurrent Investment Advisors LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,095 shares of the pipeline company’s stock after purchasing an additional 841 shares during the period. Concurrent Investment Advisors LLC’s holdings in Enbridge were worth $2,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. apricus wealth LLC boosted its position in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its position in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 242 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB stock opened at $41.74 on Friday. The business’s 50-day moving average price is $43.35 and its two-hundred day moving average price is $41.87. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $90.94 billion, a PE ratio of 24.26, a P/E/G ratio of 3.95 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current 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 $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 155.81%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ENB shares. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.