Personal CFO Solutions LLC Acquires 1,933 Shares of Enbridge Inc. (NYSE:ENB)

Personal CFO Solutions LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,813 shares of the pipeline company’s stock after purchasing an additional 1,933 shares during the quarter. Personal CFO Solutions LLC’s holdings in Enbridge were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ENB. Coppell Advisory Solutions Corp. bought a new stake in shares of Enbridge during the 4th quarter valued at about $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in Enbridge in the fourth quarter worth about $25,000. Steward Financial Group LLC boosted its position in Enbridge by 114.6% during the 2nd quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 384 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Enbridge during the 1st quarter worth approximately $27,000. Finally, Northwest Bank & Trust Co bought a new position in shares of Enbridge in the 2nd quarter worth approximately $35,000. 48.29% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 2.4 %

Shares of NYSE ENB opened at $33.68 on Monday. The company has a market cap of $71.59 billion, a PE ratio of 30.34, a P/E/G ratio of 2.75 and a beta of 0.86. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.67. The firm’s 50 day moving average price is $33.13 and its 200-day moving average price is $35.36. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $42.12.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.56 annualized dividend and a yield of 7.60%. Enbridge’s dividend payout ratio is 230.63%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENB shares. Credit Suisse Group decreased their price objective on Enbridge from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, September 13th. Wells Fargo & Company lowered shares of Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. StockNews.com started coverage on shares of Enbridge in a research note on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets assumed coverage on shares of Enbridge in a research note on Friday, September 8th. They set a “market perform” rating for the company. Finally, Scotiabank assumed coverage on Enbridge in a research report on Monday, September 11th. They issued a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.33.

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.