Legacy Financial Advisors Inc. Purchases Shares of 6,865 Enbridge Inc. (NYSE:ENB)

Legacy Financial Advisors Inc. acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,865 shares of the pipeline company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares in the last quarter. Clarius Group LLC lifted its holdings in shares of Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 1,617 shares in the last quarter. S.E.E.D. Planning Group LLC grew its position in Enbridge by 81.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares during the period. Private Trust Co. NA increased its stake in Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 473 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.08 during midday trading on Friday, reaching $36.34. The company’s stock had a trading volume of 4,208,004 shares, compared to its average volume of 7,166,785. The stock has a market capitalization of $77.26 billion, a P/E ratio of 17.30, a PEG ratio of 3.43 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm 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 issued its quarterly 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 business had revenue of $8.37 billion for 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%. As a group, equities analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.45%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is presently 129.05%.

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.