Cornerstone Wealth Management LLC Has $1.25 Million Stake in Enbridge Inc. (NYSE:ENB)

Cornerstone Wealth Management LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,503 shares of the pipeline company’s stock after buying an additional 227 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Enbridge were worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Enbridge in the 4th quarter valued at $261,000. Key Client Fiduciary Advisors LLC raised its position in Enbridge by 41.5% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 13,634 shares of the pipeline company’s stock valued at $578,000 after buying an additional 4,000 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its position in Enbridge by 0.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 132,036 shares of the pipeline company’s stock valued at $5,602,000 after buying an additional 865 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Enbridge by 7.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 899,366 shares of the pipeline company’s stock valued at $38,160,000 after purchasing an additional 65,145 shares during the period. Finally, Albion Financial Group UT bought a new position in Enbridge in the 4th quarter valued at $29,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.5 %

ENB stock opened at $45.08 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock has a fifty day moving average of $42.93 and a 200-day moving average of $40.79.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company earned $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.95%. Enbridge’s dividend payout ratio is currently 124.07%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ENB shares. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

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.