Private Advisor Group LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Private Advisor Group LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,884 shares of the pipeline company’s stock after acquiring an additional 11,226 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge were worth $3,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares during the period. 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 purchasing an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares during the period. CIBC Asset Management Inc raised its position 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 valued at $689,270,000 after purchasing an additional 2,101,021 shares during the period. Finally, Alberta Investment Management Corp raised its position in Enbridge by 63.4% in the third quarter. Alberta Investment Management Corp now owns 4,953,563 shares of the pipeline company’s stock valued at $165,058,000 after purchasing an additional 1,921,200 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $37.37 on Friday. The company has a market cap of $79.45 billion, a P/E ratio of 17.79, a PEG ratio of 3.43 and a beta of 0.87. The firm has a fifty day moving average price of $35.47 and a 200 day moving average price of $35.03. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.22.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Sell-side analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business 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 dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.25%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 127.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ENB shares. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of $55.20.

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.