Legend Financial Advisors Inc. Invests $42,000 in Enbridge Inc. (NYSE:ENB)

Legend Financial Advisors Inc. acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,000 shares of the pipeline company’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its position in Enbridge by 2.1% in the second quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock worth $3,687,000 after acquiring an additional 2,145 shares during the period. Candriam S.C.A. increased its stake in shares of Enbridge by 45.0% in the second quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock worth $409,000 after purchasing an additional 3,570 shares in the last quarter. Savant Capital LLC grew its stake in Enbridge by 17.8% during the second quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock valued at $759,000 after acquiring an additional 3,218 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Enbridge by 2,564.6% during the second quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock valued at $95,000 after acquiring an additional 256,148 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Enbridge by 622.1% during the second quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock valued at $8,139,000 after acquiring an additional 197,089 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

ENB stock traded up $0.73 during trading on Tuesday, hitting $43.72. 2,661,180 shares of the company’s stock traded hands, compared to its average volume of 2,740,019. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13. 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 business has a fifty day simple moving average of $42.24 and a 200 day simple moving average of $40.06. The stock has a market capitalization of $95.23 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $0.46 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 6.13%. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Enbridge 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.