Rockwood Wealth Management LLC Has $598,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Rockwood Wealth Management LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,201 shares of the pipeline company’s stock after buying an additional 3,284 shares during the period. Rockwood Wealth Management LLC’s holdings in Enbridge were worth $598,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ENB. apricus wealth LLC boosted its holdings 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 acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in Enbridge by 3.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares during the last quarter. Eagle Bay Advisors LLC raised its stake in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in 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 Trading Up 0.5 %

NYSE:ENB opened at $45.08 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $98.19 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93. The business’s 50-day simple moving average is $42.99 and its 200-day simple moving average is $40.86. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.95%. Enbridge’s payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

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

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.