Creekmur Asset Management LLC Buys New Holdings in Enbridge Inc. (NYSE:ENB)

Creekmur Asset Management LLC purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,499 shares of the pipeline company’s stock, valued at approximately $1,027,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in Enbridge during the 4th quarter valued at $25,000. Baystate Wealth Management LLC raised its stake in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge during the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. grew its stake 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 purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the 4th quarter valued at about $34,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Down 0.7 %

Shares of ENB traded down $0.25 on Friday, reaching $35.12. The stock had a trading volume of 6,904,167 shares, compared to its average volume of 4,577,936. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $38.37. The firm has a market capitalization of $74.67 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.29 and a beta of 0.90. The company has a 50-day simple moving average of $35.86 and a 200-day simple moving average of $35.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Sell-side analysts predict that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.71%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

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.