Enbridge Inc. (NYSE:ENB) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,461 shares of the pipeline company’s stock after acquiring an additional 13,562 shares during the period. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its holdings in shares of Enbridge by 9.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,405 shares of the pipeline company’s stock worth $1,176,000 after purchasing an additional 3,103 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Enbridge by 8.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,372,879 shares of the pipeline company’s stock worth $178,326,000 after acquiring an additional 408,029 shares in the last quarter. Bailard Inc. grew its holdings in shares of Enbridge by 21.9% in the 3rd quarter. Bailard Inc. now owns 21,910 shares of the pipeline company’s stock worth $727,000 after acquiring an additional 3,941 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Enbridge by 4.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 416,100 shares of the pipeline company’s stock worth $13,865,000 after purchasing an additional 19,100 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Enbridge by 1.4% during the third quarter. Brown Advisory Inc. now owns 288,282 shares of the pipeline company’s stock valued at $9,568,000 after purchasing an additional 3,919 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Shares of NYSE:ENB traded down $0.08 during midday trading on Friday, hitting $36.34. 4,208,004 shares of the stock were exchanged, compared to its average volume of 7,166,785. The company has a market capitalization of $77.26 billion, a PE ratio of 17.30, a P/E/G ratio of 3.43 and a beta of 0.83. The business’s fifty day simple moving average is $35.32 and its two-hundred day simple moving average is $34.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 the consensus estimate of $9.62 billion. As a group, research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared 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 of this dividend 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 dividend payout ratio is 129.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ENB shares. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities 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. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

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.