7,043 Shares in Enbridge Inc. (NYSE:ENB) Purchased by US Asset Management LLC

US Asset Management LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,043 shares of the pipeline company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Harbor Investment Advisory LLC increased its holdings in Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares during the period. North Star Investment Management Corp. increased its holdings in Enbridge by 24.6% in the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after buying an additional 300 shares during the period. Capital Investment Counsel Inc increased its holdings in Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after buying an additional 326 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Enbridge by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after buying an additional 341 shares during the period. Finally, Marino Stram & Associates LLC increased its holdings in Enbridge by 1.6% in the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock traded up $0.14 during trading on Thursday, reaching $37.37. The company had a trading volume of 4,937,123 shares, compared to its average volume of 5,789,466. The firm’s 50-day simple moving average is $35.47 and its 200 day simple moving average is $35.03. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a market capitalization of $79.45 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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 net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.25%. Enbridge’s dividend payout ratio is 127.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.20.

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.