Boston Financial Mangement LLC Takes $224,000 Position in Enbridge Inc. (NYSE:ENB)

Boston Financial Mangement LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,290 shares of the pipeline company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First Bank & Trust grew its holdings in shares of Enbridge by 0.5% during the fourth quarter. First Bank & Trust now owns 88,171 shares of the pipeline company’s stock valued at $3,741,000 after buying an additional 451 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Enbridge by 1.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 50,095 shares of the pipeline company’s stock valued at $2,126,000 after purchasing an additional 841 shares in the last quarter. Corps Capital Advisors LLC acquired a new stake in shares of Enbridge in the fourth quarter worth about $1,350,000. Cumberland Partners Ltd lifted its position in shares of Enbridge by 10.0% in the fourth quarter. Cumberland Partners Ltd now owns 38,464 shares of the pipeline company’s stock worth $1,631,000 after buying an additional 3,489 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Enbridge by 5.4% in the fourth quarter. Private Advisor Group LLC now owns 129,109 shares of the pipeline company’s stock worth $5,478,000 after buying an additional 6,620 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities 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, Enbridge currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Trading Down 0.9 %

Enbridge stock opened at $41.95 on Friday. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $41.84. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market cap of $91.40 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. Enbridge’s dividend payout ratio is currently 155.81%.

Enbridge 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.