Private Advisor Group LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Private Advisor Group LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,109 shares of the pipeline company’s stock after acquiring an additional 6,620 shares during the period. Private Advisor Group LLC’s holdings in Enbridge were worth $5,478,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Alberta Investment Management Corp lifted its holdings in shares of Enbridge by 2.9% in the 4th quarter. Alberta Investment Management Corp now owns 3,692,089 shares of the pipeline company’s stock worth $156,622,000 after buying an additional 103,008 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Enbridge by 9.0% in the fourth quarter. Global Retirement Partners LLC now owns 43,974 shares of the pipeline company’s stock valued at $1,866,000 after acquiring an additional 3,622 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in Enbridge in the fourth quarter worth about $368,000. Kestra Investment Management LLC bought a new position in Enbridge during the 4th quarter worth about $104,000. Finally, Venturi Wealth Management LLC grew its holdings in Enbridge by 157.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company’s stock worth $125,000 after acquiring an additional 1,802 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.6 %

NYSE ENB opened at $41.74 on Friday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a 50 day moving average price of $43.35 and a 200 day moving average price of $41.89. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market cap of $90.94 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Analyst Upgrades and Downgrades

ENB has been the subject of several research reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge 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.