Nations Financial Group Inc. IA ADV Purchases 340 Shares of Enbridge Inc. (NYSE:ENB)

Nations Financial Group Inc. IA ADV lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 17,933 shares of the pipeline company’s stock after purchasing an additional 340 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Enbridge were worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. ProVise Management Group LLC grew its holdings in Enbridge by 2.2% during the 4th quarter. ProVise Management Group LLC now owns 212,957 shares of the pipeline company’s stock worth $7,671,000 after acquiring an additional 4,502 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Enbridge in the fourth quarter worth $346,000. Balboa Wealth Partners acquired a new stake in Enbridge in the fourth quarter valued at $253,000. Enterprise Financial Services Corp raised its position in Enbridge by 13.6% during the 4th quarter. Enterprise Financial Services Corp now owns 7,503 shares of the pipeline company’s stock worth $270,000 after purchasing an additional 896 shares during the last quarter. Finally, Union Savings Bank lifted its holdings in Enbridge by 10.4% during the 4th quarter. Union Savings Bank now owns 18,800 shares of the pipeline company’s stock worth $677,000 after buying an additional 1,770 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Trading Up 0.8 %

Shares of ENB stock traded up $0.27 during mid-day trading on Monday, hitting $36.24. The company’s stock had a trading volume of 3,053,300 shares, compared to its average volume of 5,942,244. The company has a market cap of $77.04 billion, a PE ratio of 18.40, a P/E/G ratio of 3.43 and a beta of 0.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company’s fifty day simple moving average is $35.83 and its 200-day simple moving average is $35.41. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.47%. Enbridge’s payout ratio is 136.04%.

Enbridge Company 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.