1,590 Shares in Enbridge Inc. (NYSE:ENB) Bought by South Plains Financial Inc.

South Plains Financial Inc. purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,590 shares of the pipeline company’s stock, valued at approximately $67,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Morse Asset Management Inc purchased a new stake in Enbridge in the third quarter worth $106,000. Barclays PLC grew its position in shares of Enbridge by 8.3% during the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after purchasing an additional 44,675 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Enbridge in the third quarter valued at approximately $1,216,000. Finally, Synovus Financial Corp lifted its position in Enbridge by 0.3% during the third quarter. Synovus Financial Corp now owns 273,806 shares of the pipeline company’s stock valued at $11,119,000 after purchasing an additional 761 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB stock opened at $46.51 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm’s 50-day moving average price is $43.71 and its two-hundred day moving average price is $43.10. The stock has a market capitalization of $101.38 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 157.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Raymond James raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.