Choreo LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

Choreo LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 21,899 shares of the pipeline company’s stock after acquiring an additional 430 shares during the period. Choreo LLC’s holdings in Enbridge were worth $789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BOK Financial Private Wealth Inc. purchased a new position in shares of Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC raised its position in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge during the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its position in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Price Performance

Shares of ENB stock opened at $35.60 on Thursday. The firm has a fifty day moving average of $35.26 and a two-hundred day moving average of $34.88. The firm has a market cap of $75.67 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.36 and a beta of 0.83. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. As a group, research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio is currently 129.05%.

About Enbridge

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.