Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,826 shares of the pipeline company’s stock after acquiring an additional 2,005 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Enbridge were worth $769,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Manchester Financial Inc. acquired a new position in shares of Enbridge during the 4th quarter worth approximately $28,000. Strategic Blueprint LLC acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $27,000. Bridger Capital Management LLC acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $34,000. Vista Private Wealth Partners. LLC acquired a new position in Enbridge in the 3rd quarter valued at $33,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new position in Enbridge in the 3rd quarter valued at $35,000. 53.53% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on ENB. Morgan Stanley began coverage on Enbridge in a report on Monday, January 6th. They issued an “equal weight” rating and a $50.00 price objective on the stock. US Capital Advisors lowered Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, January 7th. Argus began coverage on Enbridge in a report on Wednesday, December 4th. They issued a “buy” rating and a $44.00 price objective on the stock. CIBC reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Enbridge in a report on Wednesday, December 11th. Finally, Bank of America began coverage on Enbridge in a report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.90.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $11.65 billion. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. During the same period in the prior year, the company posted $0.55 EPS. Research analysts predict that Enbridge Inc will post 2.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.6119 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.96%. This is an increase from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, February 13th. Enbridge’s dividend payout ratio is presently 108.78%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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