Greenline Partners LLC Buys 3,366 Shares of Enbridge Inc. (NYSE:ENB)

Greenline Partners LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,466 shares of the pipeline company’s stock after purchasing an additional 3,366 shares during the quarter. Enbridge comprises about 2.0% of Greenline Partners LLC’s holdings, making the stock its 11th biggest holding. Greenline Partners LLC’s holdings in Enbridge were worth $14,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Albion Financial Group UT bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $29,000. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares during the period. GeoWealth Management LLC increased its stake in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its position in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new position in Enbridge during the 4th quarter valued at about $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.7 %

Enbridge stock opened at $46.10 on Friday. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The stock has a fifty day moving average of $44.24 and a 200 day moving average of $43.30. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $100.50 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm 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 in the prior year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.89%. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

Analyst Ratings Changes

Several research firms recently weighed in on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.