Tcfg Wealth Management LLC Boosts Stake in Enbridge Inc. (NYSE:ENB)

Tcfg Wealth Management LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 37.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,620 shares of the pipeline company’s stock after purchasing an additional 3,155 shares during the period. Tcfg Wealth Management LLC’s holdings in Enbridge were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT purchased a new position in Enbridge in the 4th quarter valued at approximately $29,000. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter valued at approximately $35,000. Finally, Darwin Wealth Management LLC purchased a new position in Enbridge in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $43.13 on Friday. The company’s fifty day moving average price is $43.33 and its 200 day moving average price is $41.70. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. 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 firm has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.08 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.21%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

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

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.