Cascade Investment Group Inc. Purchases 700 Shares of Enbridge Inc. (NYSE:ENB)

Cascade Investment Group Inc. raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,093 shares of the pipeline company’s stock after purchasing an additional 700 shares during the quarter. Cascade Investment Group Inc.’s holdings in Enbridge were worth $343,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ENB. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter worth approximately $28,000. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge in the third quarter valued at about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Trading Up 1.1 %

Shares of Enbridge stock opened at $44.53 on Monday. The firm has a fifty day moving average price of $42.75 and a 200 day moving average price of $40.57. The stock has a market cap of $97.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.90. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the company posted $0.46 EPS. Equities research analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is presently 124.07%.

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.