Cornerstone Wealth Management LLC Buys 227 Shares of Enbridge Inc. (NYSE:ENB)

Cornerstone Wealth Management LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,503 shares of the pipeline company’s stock after purchasing an additional 227 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Enbridge were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ENB. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at about $28,000. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the 3rd 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 purchased a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $45.08 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock’s 50-day moving average is $42.93 and its 200 day moving average is $40.79. The stock has a market cap of $98.19 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.95%. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge 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.