Bard Financial Services Inc. Buys 700 Shares of Enbridge Inc. (NYSE:ENB)

Bard Financial Services Inc. raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 124,290 shares of the pipeline company’s stock after acquiring an additional 700 shares during the quarter. Bard Financial Services Inc.’s holdings in Enbridge were worth $5,273,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC increased its position in shares of Enbridge by 15.5% during the second quarter. Natixis Advisors LLC now owns 138,305 shares of the pipeline company’s stock valued at $4,922,000 after purchasing an additional 18,519 shares during the period. Private Advisor Group LLC raised its position in Enbridge by 2.1% in the second quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock worth $3,687,000 after purchasing an additional 2,145 shares in the last quarter. Candriam S.C.A. boosted its holdings in Enbridge by 45.0% during the second quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock valued at $409,000 after purchasing an additional 3,570 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Enbridge by 17.8% in the 2nd quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock worth $759,000 after buying an additional 3,218 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Enbridge by 2,564.6% in the second quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock valued at $95,000 after acquiring an additional 256,148 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Down 0.2 %

Enbridge stock traded down $0.07 during mid-day trading on Monday, hitting $43.02. The stock had a trading volume of 1,264,596 shares, compared to its average volume of 2,417,504. The stock has a 50-day simple moving average of $42.20 and a two-hundred day simple moving average of $40.00. 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 has a market capitalization of $93.71 billion, a PE ratio of 19.92, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.23%. Enbridge’s dividend payout ratio is currently 124.07%.

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.