Cape Investment Advisory Inc. Grows Stake in Enbridge Inc. (NYSE:ENB)

Cape Investment Advisory Inc. raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,156 shares of the pipeline company’s stock after buying an additional 302 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Enbridge were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Swiss National Bank grew its holdings in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares in the last quarter. Sound Income Strategies LLC grew its stake in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after buying an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB stock opened at $42.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market cap of $93.11 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. The firm’s fifty day moving average is $43.42 and its 200 day moving average is $42.00. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm earned $0.64 earnings per share. Research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were paid a $0.67 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ENB. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.00.

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.