Diversify Wealth Management LLC Grows Position in Enbridge Inc. (NYSE:ENB)

Diversify Wealth Management LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,238 shares of the pipeline company’s stock after buying an additional 5,655 shares during the period. Diversify Wealth Management LLC’s holdings in Enbridge were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the 2nd quarter valued at about $28,000. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. 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 worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the topic of several analyst reports. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Shares of ENB opened at $44.53 on Tuesday. The firm has a 50-day simple moving average of $42.75 and a two-hundred day simple moving average of $40.60. The stock has a market cap of $97.00 billion, a PE ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.90. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm earned $0.46 EPS. As a group, analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

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.