Hager Investment Management Services LLC Acquires New Holdings in Enbridge Inc. (NYSE:ENB)

Hager Investment Management Services LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,330 shares of the pipeline company’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% during 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 period. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter worth approximately $29,000. Grove Bank & Trust raised its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Enbridge in the third quarter worth approximately $35,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

Shares of NYSE ENB opened at $43.73 on Wednesday. The firm has a fifty day moving average price of $43.11 and a 200-day moving average price of $41.27. 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 cap of $95.25 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.