Total Clarity Wealth Management Inc. Has $1.52 Million Stake in Enbridge Inc. (NYSE:ENB)

Total Clarity Wealth Management Inc. lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,926 shares of the pipeline company’s stock after purchasing an additional 254 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Enbridge were worth $1,524,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Clear Creek Financial Management LLC raised its stake in shares of Enbridge by 22.3% in the fourth quarter. Clear Creek Financial Management LLC now owns 28,144 shares of the pipeline company’s stock valued at $1,194,000 after purchasing an additional 5,132 shares in the last quarter. Caprock Group LLC raised its stake in shares of Enbridge by 22.1% in the fourth quarter. Caprock Group LLC now owns 41,298 shares of the pipeline company’s stock valued at $1,752,000 after purchasing an additional 7,462 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Enbridge in the fourth quarter valued at $52,000. Country Trust Bank raised its stake in shares of Enbridge by 133.5% in the fourth quarter. Country Trust Bank now owns 2,438 shares of the pipeline company’s stock valued at $103,000 after purchasing an additional 1,394 shares in the last quarter. Finally, Sonora Investment Management Group LLC raised its stake in shares of Enbridge by 7.7% in the fourth quarter. Sonora Investment Management Group LLC now owns 17,324 shares of the pipeline company’s stock valued at $735,000 after purchasing an additional 1,234 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

Shares of ENB stock opened at $43.29 on Friday. The stock’s fifty day moving average is $43.11 and its 200-day moving average is $41.10. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $94.31 billion, a PE ratio of 20.04, a PEG ratio of 4.11 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities research analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

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.