Fourth Dimension Wealth LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Fourth Dimension Wealth LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,813 shares of the pipeline company’s stock, valued at approximately $119,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. GeoWealth Management LLC raised its holdings in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in Enbridge during the fourth quarter worth about $42,000. Vision Financial Markets LLC purchased a new position in Enbridge during the fourth quarter worth about $47,000. Finally, Synergy Asset Management LLC purchased a new position in Enbridge during the fourth quarter worth about $51,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.9%

Shares of Enbridge stock opened at $46.04 on Friday. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $100.37 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a 50-day moving average of $44.74 and a two-hundred day moving average of $43.60.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same period last year, the company posted $0.92 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced 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 is Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.90%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” 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.