Checchi Capital Advisers LLC Acquires 922 Shares of Enbridge Inc. (NYSE:ENB)

Checchi Capital Advisers LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,834 shares of the pipeline company’s stock after acquiring an additional 922 shares during the period. Checchi Capital Advisers LLC’s holdings in Enbridge were worth $502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter valued at about $29,000. Fortitude Family Office LLC acquired a new position in Enbridge in the third quarter valued at about $35,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the third quarter valued at about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its position in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. 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 initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $41.78 on Thursday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company’s 50-day moving average price is $43.38 and its two-hundred day moving average price is $41.95. The firm has a market cap of $91.04 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. 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 6.42%. Enbridge’s payout ratio is 155.81%.

About Enbridge

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.