Dupree Financial Group LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Dupree Financial Group LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 504,381 shares of the pipeline company’s stock after acquiring an additional 4,663 shares during the quarter. Enbridge comprises approximately 9.8% of Dupree Financial Group LLC’s holdings, making the stock its biggest position. Dupree Financial Group LLC’s holdings in Enbridge were worth $21,401,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in 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 stake in Enbridge during the 4th quarter valued at $29,000. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the 3rd 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 grew its stake in shares of 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 purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Enbridge during the third quarter valued at $35,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued 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. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Trading Down 0.7 %

NYSE:ENB opened at $42.94 on Tuesday. The stock has a fifty day simple moving average of $43.11 and a 200 day simple moving average of $41.22. The firm has a market capitalization of $93.54 billion, a price-to-earnings ratio of 19.88, 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. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the company posted $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 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.