Ameriflex Group Inc. Acquires New Position in Enbridge Inc. (NYSE:ENB)

Ameriflex Group Inc. bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,596 shares of the pipeline company’s stock, valued at approximately $199,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wintrust Investments LLC boosted its position in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after buying an additional 242 shares in the last quarter. KPP Advisory Services LLC raised its position in Enbridge by 4.2% during the fourth quarter. KPP Advisory Services LLC now owns 5,970 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 242 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Enbridge by 2.0% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company’s stock valued at $541,000 after acquiring an additional 251 shares in the last quarter. Finally, Knuff & Co LLC lifted its stake in Enbridge by 12.6% in the fourth quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company’s stock valued at $96,000 after acquiring an additional 252 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Enbridge stock opened at $46.04 on Monday. The business’s fifty day moving average is $44.74 and its two-hundred day moving average is $43.62. 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 firm has a market cap of $100.37 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the business posted $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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. This represents a $2.72 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend payout ratio is 139.69%.

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Finally, Raymond James raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.