Foundations Investment Advisors LLC Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Foundations Investment Advisors LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,842 shares of the pipeline company’s stock after acquiring an additional 8,151 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Enbridge were worth $2,369,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. purchased a new position in Enbridge during the 2nd quarter worth $28,000. McIlrath & Eck LLC grew its position 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 buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge during the fourth quarter valued at $29,000. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Down 0.4 %

Shares of Enbridge stock opened at $44.51 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market cap of $96.94 billion, a P/E ratio of 20.60, a PEG ratio of 4.15 and a beta of 0.93. The firm’s 50 day moving average price is $43.03 and its 200-day moving average price is $40.99. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company earned $0.46 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.