Riverview Capital Advisers LLC Has $2.91 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Riverview Capital Advisers LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the fourth quarter, Holdings Channel reports. The fund owned 68,565 shares of the pipeline company’s stock after selling 756 shares during the quarter. Riverview Capital Advisers LLC’s holdings in Enbridge were worth $2,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the last quarter. GeoWealth Management LLC increased its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its position in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Enbridge in the fourth quarter worth approximately $42,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

ENB stock opened at $44.81 on Thursday. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $97.69 billion, a PE ratio of 26.05, a P/E/G ratio of 3.92 and a beta of 0.84. The firm has a 50 day simple moving average of $44.39 and a two-hundred day simple moving average of $43.37.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the business posted $0.92 EPS. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 139.69%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENB shares. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James raised Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Company 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.