Choreo LLC Raises Position in Enbridge Inc. (NYSE:ENB)

Choreo LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,899 shares of the pipeline company’s stock after acquiring an additional 430 shares during the quarter. Choreo LLC’s holdings in Enbridge were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new position in Enbridge during the 4th quarter worth $25,000. Baystate Wealth Management LLC boosted its stake in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge during the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. increased its stake in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in Enbridge in the fourth quarter valued at approximately $34,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ENB. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Trading Up 0.2 %

NYSE ENB opened at $35.60 on Thursday. The firm’s fifty day moving average price is $35.26 and its 200 day moving average price is $34.88. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The company has a market capitalization of $75.67 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. On average, sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.61%. Enbridge’s payout ratio is 129.05%.

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.