Enbridge Inc. (NYSE:ENB) Shares Bought by Rockwood Wealth Management LLC

Rockwood Wealth Management LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,201 shares of the pipeline company’s stock after acquiring an additional 3,284 shares during the period. Rockwood Wealth Management LLC’s holdings in Enbridge were worth $598,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in shares of Enbridge in the fourth quarter worth approximately $29,000. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its holdings in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENB has been the subject of several recent research reports. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

NYSE ENB opened at $45.08 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $98.19 billion, a PE ratio of 20.87, a P/E/G ratio of 4.15 and a beta of 0.93. The stock has a 50-day simple moving average of $42.99 and a 200 day simple moving average of $40.86.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the company earned $0.46 EPS. Research analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.95%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.