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

Geneos Wealth Management Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 26.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,235 shares of the pipeline company’s stock after acquiring an additional 3,598 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Enbridge were worth $731,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in ENB. apricus wealth LLC lifted its position in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Enbridge by 7.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,178,502 shares of the pipeline company’s stock worth $50,004,000 after acquiring an additional 80,821 shares during the period. Sound Income Strategies LLC lifted its holdings in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares during the last quarter. LexAurum Advisors LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $205,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of ENB opened at $44.72 on Tuesday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock’s fifty day moving average is $42.99 and its 200-day moving average is $40.93. 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 firm has a market capitalization of $97.41 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.46 EPS. Equities 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. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Analysts Set New Price Targets

ENB has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities started coverage on shares of Enbridge in a research 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 report on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.00.

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.