Silver Oak Securities Incorporated Makes New Investment in Enbridge Inc. (NYSE:ENB)

Silver Oak Securities Incorporated bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,118 shares of the pipeline company’s stock, valued at approximately $220,000.

A number of other institutional investors also recently bought and sold shares of the company. Fiduciary Group LLC purchased a new stake in Enbridge during the fourth quarter worth $297,000. Legacy Capital Wealth Partners LLC lifted its position in shares of Enbridge by 6.5% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 11,254 shares of the pipeline company’s stock valued at $405,000 after acquiring an additional 691 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Enbridge in the fourth quarter valued at $470,000. Intact Investment Management Inc. lifted its position in shares of Enbridge by 22.7% in the fourth quarter. Intact Investment Management Inc. now owns 2,213,155 shares of the pipeline company’s stock valued at $79,674,000 after acquiring an additional 409,864 shares in the last quarter. Finally, White Pine Capital LLC lifted its position in shares of Enbridge by 7.3% in the fourth quarter. White Pine Capital LLC now owns 11,214 shares of the pipeline company’s stock valued at $404,000 after acquiring an additional 760 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

NYSE ENB opened at $35.60 on Thursday. The business’s 50-day moving average price is $35.26 and its 200 day moving average price is $34.88. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The company has a market capitalization of $75.67 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. On average, research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.61%. Enbridge’s dividend payout ratio is currently 129.05%.

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.