Mission Wealth Management LP Purchases 4,407 Shares of Enbridge Inc. (NYSE:ENB)

Mission Wealth Management LP increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,677 shares of the pipeline company’s stock after acquiring an additional 4,407 shares during the period. Mission Wealth Management LP’s holdings in Enbridge were worth $421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Enbridge by 1.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 308,118 shares of the pipeline company’s stock worth $10,226,000 after acquiring an additional 5,202 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Enbridge by 9.6% in the third quarter. Stratos Wealth Partners LTD. now owns 35,405 shares of the pipeline company’s stock worth $1,176,000 after buying an additional 3,103 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Enbridge by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 5,372,879 shares of the pipeline company’s stock worth $178,326,000 after buying an additional 408,029 shares during the period. Bailard Inc. lifted its position in shares of Enbridge by 21.9% during the 3rd quarter. Bailard Inc. now owns 21,910 shares of the pipeline company’s stock valued at $727,000 after buying an additional 3,941 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its stake in shares of Enbridge by 4.8% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 416,100 shares of the pipeline company’s stock valued at $13,865,000 after acquiring an additional 19,100 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Shares of ENB opened at $36.34 on Friday. The firm has a market capitalization of $77.26 billion, a P/E ratio of 17.30, a P/E/G ratio of 3.44 and a beta of 0.83. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average price of $35.29 and a 200-day moving average price of $34.89.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Equities research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.45%. Enbridge’s payout ratio is currently 129.05%.

Analysts Set New Price Targets

ENB has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.20.

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.