Atomi Financial Group Inc. Acquires 2,776 Shares of Enbridge Inc. (NYSE:ENB)

Atomi Financial Group Inc. lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,601 shares of the pipeline company’s stock after purchasing an additional 2,776 shares during the period. Atomi Financial Group Inc.’s holdings in Enbridge were worth $1,214,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter worth about $28,000. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust raised its holdings in 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 acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 1.9 %

ENB opened at $45.35 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock’s fifty day simple moving average is $42.79 and its 200 day simple moving average is $40.66. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The stock has a market cap of $98.79 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates 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 firm earned $0.46 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current 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 given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

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.