Parsons Capital Management Inc. RI Buys 38,871 Shares of Enbridge Inc. (NYSE:ENB)

Parsons Capital Management Inc. RI increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 202.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,068 shares of the pipeline company’s stock after purchasing an additional 38,871 shares during the period. Parsons Capital Management Inc. RI’s holdings in Enbridge were worth $2,464,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares in the last quarter. National Bank of Canada FI boosted its position in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares during the period. JPMorgan Chase & Co. raised its holdings in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

NYSE:ENB opened at $44.99 on Monday. The firm has a market cap of $98.00 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm has a 50-day simple moving average of $42.99 and a two-hundred day simple moving average of $40.93.

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

Enbridge Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research reports. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

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.