AJOVista LLC Acquires New Holdings in Enbridge Inc. (NYSE:ENB)

AJOVista LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 12,400 shares of the pipeline company’s stock, valued at approximately $446,000. Enbridge accounts for about 0.6% of AJOVista LLC’s investment portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. NewGen Asset Management Ltd boosted its position in Enbridge by 80.4% during the 4th quarter. NewGen Asset Management Ltd now owns 306,700 shares of the pipeline company’s stock worth $11,047,000 after acquiring an additional 136,700 shares during the last quarter. Blue Fin Capital Inc. boosted its position in Enbridge by 4.8% during the 4th quarter. Blue Fin Capital Inc. now owns 10,560 shares of the pipeline company’s stock worth $380,000 after acquiring an additional 485 shares during the last quarter. Legacy Financial Advisors Inc. acquired a new position in Enbridge during the 4th quarter worth approximately $247,000. Sapient Capital LLC acquired a new position in Enbridge during the 4th quarter worth approximately $398,000. Finally, Axxcess Wealth Management LLC boosted its position in Enbridge by 34.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 52,461 shares of the pipeline company’s stock worth $1,890,000 after acquiring an additional 13,562 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.08 during trading on Friday, reaching $36.34. 4,208,004 shares of the stock were exchanged, compared to its average volume of 7,166,785. 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 market cap of $77.26 billion, a PE ratio of 17.30, a PEG ratio of 3.43 and a beta of 0.83. The stock has a 50-day moving average price of $35.32 and a 200-day moving average price of $34.91. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30.

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

Enbridge Increases Dividend

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

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.