Pathfinder Wealth Consulting Inc. Invests $541,000 in Enbridge Inc $ENB

Pathfinder Wealth Consulting Inc. purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,311 shares of the pipeline company’s stock, valued at approximately $541,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tsfg LLC lifted its holdings in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the period. Triumph Capital Management acquired a new position in Enbridge during the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the 3rd quarter worth about $28,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge in the 3rd quarter worth approximately $31,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Up 0.5%

NYSE ENB opened at $58.07 on Friday. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. The company has a market capitalization of $126.80 billion, a P/E ratio of 27.26 and a beta of 0.59. The company’s 50 day simple moving average is $54.21 and its 200 day simple moving average is $50.76. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the firm posted $1.03 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.7%. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.