Pacific Capital Wealth Advisors Inc. Makes New Investment in Enbridge Inc. (NYSE:ENB)

Pacific Capital Wealth Advisors Inc. acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,148 shares of the pipeline company’s stock, valued at approximately $77,000.

Other large investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge during the 4th quarter worth about $25,000. Baystate Wealth Management LLC grew its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. raised its stake in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

ENB stock traded up $0.41 during trading hours on Wednesday, hitting $37.24. 5,838,031 shares of the stock were exchanged, compared to its average volume of 5,799,036. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $35.41 and a two-hundred day simple moving average of $35.02. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.22. The firm has a market capitalization of $79.17 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.43 and a beta of 0.87.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.27%. Enbridge’s payout ratio is currently 127.14%.

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.