Sheets Smith Wealth Management bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,366 shares of the pipeline company’s stock, valued at approximately $291,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in Enbridge by 6.2% in the fourth quarter. Sound Income Strategies LLC now owns 35,199 shares of the pipeline company’s stock worth $1,094,000 after purchasing an additional 2,052 shares in the last quarter. First Hawaiian Bank grew its stake in Enbridge by 10.2% in the fourth quarter. First Hawaiian Bank now owns 9,501 shares of the pipeline company’s stock worth $296,000 after purchasing an additional 878 shares in the last quarter. Adams Asset Advisors LLC bought a new position in Enbridge in the fourth quarter worth approximately $2,254,000. Arlington Partners LLC bought a new position in Enbridge in the fourth quarter worth approximately $57,000. Finally, Curbstone Financial Management Corp bought a new position in Enbridge in the fourth quarter worth approximately $406,000. 49.11% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Byron C. Neiles sold 64,000 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the completion of the sale, the insider now owns 128,665 shares in the company, valued at approximately $5,545,461.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Albert Monaco acquired 7,569 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average price of $43.82 per share, with a total value of $331,673.58. Following the acquisition, the insider now owns 67,329 shares in the company, valued at approximately $2,950,356.78. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
Shares of NYSE ENB opened at $34.54 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.03 and a beta of 0.54. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $40.07.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Thursday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. Enbridge’s dividend payout ratio is currently 131.82%.
Several brokerages have issued reports on ENB. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Monday, October 8th. UBS Group began coverage on Enbridge in a research report on Thursday, October 4th. They set a “buy” rating on the stock. ValuEngine raised Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Finally, Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.20.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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