Atlantic Family Wealth LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Atlantic Family Wealth LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,607 shares of the pipeline company’s stock, valued at approximately $323,000. Enbridge accounts for about 0.4% of Atlantic Family Wealth LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Enbridge by 18.2% in the third quarter. Private Advisor Group LLC now owns 122,489 shares of the pipeline company’s stock valued at $4,974,000 after buying an additional 18,891 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Enbridge by 734.1% during the 3rd quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock valued at $36,200,000 after purchasing an additional 784,535 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Enbridge by 19.8% during the third quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock worth $3,054,000 after purchasing an additional 12,431 shares during the period. Ballentine Partners LLC increased its holdings in shares of Enbridge by 3.3% in the third quarter. Ballentine Partners LLC now owns 10,342 shares of the pipeline company’s stock valued at $420,000 after purchasing an additional 329 shares during the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of Enbridge in the third quarter valued at about $205,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

NYSE:ENB opened at $41.74 on Friday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm’s 50-day simple moving average is $43.35 and its 200 day simple moving average is $41.89. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

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.