Enbridge Inc. (NYSE:ENB) Stake Lifted by Applied Capital LLC FL

Applied Capital LLC FL raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 31,927 shares of the pipeline company’s stock after buying an additional 323 shares during the quarter. Applied Capital LLC FL’s holdings in Enbridge were worth $1,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. apricus wealth LLC lifted its position in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after buying an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC grew its holdings in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after buying an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 242 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENB. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $45.08 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business’s 50-day moving average price is $42.99 and its 200 day moving average price is $40.86. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The firm has a market cap of $98.19 billion, a P/E ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

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.