Enbridge Inc. (NYSE:ENB) Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,301 shares of the pipeline company’s stock after purchasing an additional 5,902 shares during the period. Soltis Investment Advisors LLC’s holdings in Enbridge were worth $7,281,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hobbs Group Advisors LLC raised its stake in Enbridge by 15.1% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Enbridge in the third quarter valued at approximately $203,000. Geode Capital Management LLC lifted its stake in shares of Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after buying an additional 985,546 shares during the period. Duff & Phelps Investment Management Co. boosted its position in Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Finally, Barclays PLC boosted its position in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after acquiring an additional 44,675 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $42.32 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $92.16 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.26 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The company’s 50-day simple moving average is $41.92 and its 200-day simple moving average is $39.17.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business 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 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

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.