Enbridge Inc. (NYSE:ENB) Stock Holdings Increased by Naples Global Advisors LLC

Naples Global Advisors LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,137 shares of the pipeline company’s stock after purchasing an additional 2,509 shares during the period. Naples Global Advisors LLC’s holdings in Enbridge were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of 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 worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its stake in Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after acquiring an additional 1,472,789 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ENB. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (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. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley began coverage on shares of Enbridge in a research report 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

NYSE ENB opened at $45.59 on Friday. The company has a 50 day moving average of $43.30 and a 200-day moving average of $41.63. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $99.32 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.88%. Enbridge’s dividend payout ratio (DPR) is presently 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.