Kestra Private Wealth Services LLC Increases Position in Enbridge Inc. (NYSE:ENB)

Kestra Private Wealth Services LLC lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,979 shares of the pipeline company’s stock after purchasing an additional 7,746 shares during the period. Kestra Private Wealth Services LLC’s holdings in Enbridge were worth $1,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Wellington Management Group LLP increased its stake in Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. TD Asset Management Inc raised its holdings in Enbridge by 2.2% during the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after purchasing an additional 664,057 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Enbridge by 5.1% during the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after buying an additional 1,353,753 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 13.9% in the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after buying an additional 2,756,079 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Trading Down 0.2 %

Shares of ENB stock opened at $36.34 on Friday. The company has a market capitalization of $77.26 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $35.32 and its two-hundred day moving average is $34.91. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Equities analysts forecast that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

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.