Cary Street Partners Financial LLC Takes $403,000 Position in Enbridge Inc. (NYSE:ENB)

Cary Street Partners Financial LLC acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel reports. The fund acquired 9,500 shares of the pipeline company’s stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Metis Global Partners LLC raised its stake in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares during the last quarter. Aviso Financial Inc. raised its position in shares of Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after acquiring an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Vanguard Group Inc. boosted its position in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB opened at $46.10 on Friday. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08. The company has a market cap of $100.50 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. The company’s fifty day moving average price is $44.24 and its two-hundred day moving average price is $43.30. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.89%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 157.56%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James raised Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.