Strategic Blueprint LLC Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Strategic Blueprint LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,724 shares of the pipeline company’s stock after buying an additional 1,128 shares during the quarter. Strategic Blueprint LLC’s holdings in Enbridge were worth $667,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the third quarter worth $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $44.45 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $43.09 and its 200 day simple moving average is $41.08. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a market capitalization of $96.82 billion, a PE ratio of 20.58, a P/E/G ratio of 4.15 and a beta of 0.93.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.03%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

About Enbridge

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.