Mediolanum International Funds Ltd Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Mediolanum International Funds Ltd lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 82.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 152,794 shares of the pipeline company’s stock after acquiring an additional 68,954 shares during the period. Mediolanum International Funds Ltd’s holdings in Enbridge were worth $6,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ENB. Swiss National Bank grew its position in Enbridge by 3.2% during the 3rd 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 during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of 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 valued at $52,880,000 after acquiring an additional 319,907 shares during the period. Sound Income Strategies LLC raised 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 acquiring an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Trading Down 2.7 %

Enbridge stock opened at $43.29 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 firm has a market cap of $94.31 billion, a PE ratio of 20.04, a P/E/G ratio of 4.11 and a beta of 0.93. The stock’s 50 day simple moving average is $43.11 and its two-hundred day simple moving average is $41.10. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates 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 business earned $0.46 earnings per share. Analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.19%. Enbridge’s dividend payout ratio is presently 121.76%.

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.