Weaver Capital Management LLC Grows Stake in Enbridge Inc. (NYSE:ENB)

Weaver Capital Management LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.8% in the 4th quarter, HoldingsChannel reports. The fund owned 39,679 shares of the pipeline company’s stock after acquiring an additional 2,172 shares during the period. Weaver Capital Management LLC’s holdings in Enbridge were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $29,000. Grove Bank & Trust boosted its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its position in shares of 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 buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously 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 research note on Wednesday, January 15th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Enbridge stock opened at $43.73 on Wednesday. The company has a 50 day moving average price of $43.11 and a 200-day moving average price of $41.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a market capitalization of $95.25 billion, a PE ratio of 20.24, a P/E/G ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.