Affinity Capital Advisors LLC Buys Shares of 13,060 Enbridge Inc. (NYSE:ENB)

Affinity Capital Advisors LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 13,060 shares of the pipeline company’s stock, valued at approximately $473,000.

Other institutional investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new position in Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC boosted its stake in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Enbridge in the 4th quarter valued at about $28,000. Financial Gravity Asset Management Inc. boosted its stake in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in shares of Enbridge in the 4th quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.4 %

ENB stock traded down $0.15 during trading on Wednesday, hitting $34.85. 493,767 shares of the company’s stock were exchanged, compared to its average volume of 5,703,346. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The business has a 50-day moving average price of $35.93 and a two-hundred day moving average price of $35.63. The stock has a market capitalization of $74.09 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.29 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. As a group, equities research analysts expect that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.77%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

Analyst Ratings Changes

Separately, Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

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.