Roxbury Financial LLC Acquires Stake in Enbridge Inc.

Roxbury Financial LLC recently announced its acquisition of a new stake in Enbridge Inc. (NYSE:ENB, TSE:ENB) during the fourth quarter, as detailed in the firm's latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased a total of 8,873 shares of the pipeline company’s stock, which is valued at approximately $385,000.

In addition to Roxbury Financial's movements, several other hedge funds have also adjusted their holdings in Enbridge. For instance, McIlrath & Eck LLC increased its position in the company by 74.9% during the third quarter, now owning 689 shares valued at around $28,000 after acquiring an additional 295 shares. Similarly, Albion Financial Group UT made a new investment in Enbridge in the fourth quarter, valued at about $29,000. Furthermore, MFA Wealth Advisors LLC raised its stake by 55.6% in the third quarter, now holding 784 shares worth $32,000 after a purchase of 280 shares. Other noteworthy transactions include investments from Fortitude Family Office LLC and Darwin Wealth Management LLC, valued at approximately $35,000 and $37,000, respectively. It is reported that hedge funds and institutional investors together hold approximately 54.60% of Enbridge's shares.

Analyst Perspectives

Recently, several equity analysts have provided insights regarding Enbridge's stock. Notably, Wells Fargo & Company upgraded its rating on Enbridge from "underweight" to "equal weight" in a research report published on November 6th. TD Securities initiated coverage on Enbridge with a "buy" rating on January 15th. Royal Bank of Canada maintained an "outperform" rating while raising its price target from $59.00 to $63.00 in a report released on December 4th. Additionally, Morgan Stanley began coverage on Enbridge on October 25th, assigning it an "equal weight" rating. Overall, three analysts currently rate the stock as a hold, while two have issued buy ratings. According to MarketBeat.com, Enbridge holds a consensus rating of "Hold" along with an average price target of $63.00.

Enbridge's Market Overview

As of the last trading session on Friday, Enbridge's stock opened at $43.13, giving the company a market capitalization of $93.95 billion. The stock has a price-to-earnings (PE) ratio of 19.97, a price-to-earnings-growth (PEG) ratio of 4.08, and a beta of 0.94. Over the past year, Enbridge's shares reached a low of $32.85 and a high of $45.78. The company also reports a quick ratio of 0.54, a current ratio of 0.62, and a debt-to-equity ratio of 1.41. The stock has a moving average of $43.33 for the last 50 days and $41.65 for the last 200 days.

Dividend Announcement

In a recent development, Enbridge declared a quarterly dividend which is set to be paid on March 1st. Stockholders of record on February 15th will receive a dividend of $0.67 per share, with the ex-dividend date falling on February 14th. This translates to an annualized dividend of $2.68 and a yield of 6.21%. Currently, the company's dividend payout ratio stands at 121.76%.

About Enbridge Inc.

Enbridge Inc. operates as an energy infrastructure company, functioning through five key segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment focuses on operating pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons across Canada and the United States.

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