White Pine Capital LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

White Pine Capital LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,214 shares of the pipeline company’s stock after buying an additional 760 shares during the period. White Pine Capital LLC’s holdings in Enbridge were worth $404,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew 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. Vanguard Group Inc. grew its stake in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after acquiring an additional 2,814,200 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after acquiring an additional 2,756,079 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Enbridge by 11.3% in the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after acquiring an additional 2,101,021 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.44 on Friday, reaching $35.82. 4,385,230 shares of the stock were exchanged, compared to its average volume of 6,269,155. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The firm has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.36 and a beta of 0.84. The business has a 50 day moving average price of $35.19 and a two-hundred day moving average price of $34.82. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) 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 company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. Enbridge’s payout ratio is 129.05%.

Enbridge 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.