Enbridge Inc. (NYSE:ENB) Shares Bought by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,754 shares of the pipeline company’s stock after buying an additional 1,917 shares during the period. Consolidated Portfolio Review Corp’s holdings in Enbridge were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENB. CIBC Asset Management Inc grew 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 during the last quarter. National Bank of Canada FI lifted its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. JPMorgan Chase & Co. grew its position in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 valued at $498,734,000 after buying an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 985,546 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENB. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 0.7 %

ENB stock opened at $44.51 on Friday. 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 company’s 50-day moving average price is $43.18 and its 200 day moving average price is $41.36. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a market cap of $96.96 billion, a P/E ratio of 20.61, a P/E/G ratio of 4.02 and a beta of 0.94.

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 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 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.