Graver Capital Management LLC Invests $242,000 in Enbridge Inc. (NYSE:ENB)

Graver Capital Management LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,713 shares of the pipeline company’s stock, valued at approximately $242,000. Enbridge comprises 0.3% of Graver Capital Management LLC’s holdings, making the stock its 24th biggest position.

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

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada increased their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Trading Up 0.7 %

Shares of ENB stock opened at $46.10 on Friday. 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 stock has a 50 day simple moving average of $44.24 and a 200-day simple moving average of $43.30. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating 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 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 company posted $0.64 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. 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%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

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.