New Wave Wealth Advisors LLC Buys New Stake in Enbridge Inc. (NYSE:ENB)

New Wave Wealth Advisors LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,235 shares of the pipeline company’s stock, valued at approximately $52,000.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC raised its position in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Down 2.7 %

ENB stock opened at $43.29 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 firm has a market cap of $94.31 billion, a P/E ratio of 20.04, a P/E/G ratio of 4.11 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The business’s 50 day moving average is $43.11 and its 200-day moving average is $41.10.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given 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 6.19%. Enbridge’s dividend payout ratio (DPR) is presently 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.