EdgeRock Capital LLC Invests $40,000 in Enbridge Inc. (NYSE:ENB)

EdgeRock Capital LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,119 shares of the pipeline company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Enbridge in the fourth quarter worth $77,000. Sovereign Financial Group Inc. purchased a new stake in shares of Enbridge during the 4th quarter worth about $222,000. Apollon Wealth Management LLC lifted its holdings in shares of Enbridge by 9.5% during the 4th quarter. Apollon Wealth Management LLC now owns 51,249 shares of the pipeline company’s stock valued at $1,847,000 after buying an additional 4,454 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Enbridge by 0.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 2,622,189 shares of the pipeline company’s stock valued at $94,845,000 after buying an additional 15,217 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Enbridge by 11.9% in the fourth quarter. Private Advisor Group LLC now owns 105,884 shares of the pipeline company’s stock worth $3,814,000 after buying an additional 11,226 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock traded up $0.41 during mid-day trading on Wednesday, reaching $37.24. 5,838,031 shares of the stock traded hands, compared to its average volume of 5,799,036. The firm has a market capitalization of $79.17 billion, a PE ratio of 17.73, a P/E/G ratio of 3.43 and a beta of 0.87. The business has a 50-day moving average of $35.41 and a two-hundred day moving average of $35.02. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.22. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, equities analysts predict that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.27%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is 127.14%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Stifel Nicolaus started coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

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.