8,776 Shares in Enbridge Inc. (NYSE:ENB) Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,776 shares of the pipeline company’s stock, valued at approximately $372,000.

Several other institutional investors also recently modified their holdings of the stock. apricus wealth LLC grew its holdings in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares during the period. Eagle Bay Advisors LLC raised its stake in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Down 0.4 %

Shares of ENB opened at $44.29 on Thursday. The firm has a 50 day simple moving average of $43.06 and a two-hundred day simple moving average of $41.05. The company has a market cap of $96.47 billion, a P/E ratio of 20.50, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the company earned $0.46 EPS. Research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal 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 issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 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.