Enbridge Inc. (NYSE:ENB) Position Boosted by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Cibc World Market Inc. raised its position in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after acquiring an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares in the last quarter. Toronto Dominion Bank boosted its stake in Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reissued 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 shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

NYSE ENB opened at $42.32 on Wednesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13. The stock’s 50-day moving average price is $41.92 and its two-hundred day moving average price is $39.17. The company has a market cap of $92.16 billion, a PE ratio of 19.59, a PEG ratio of 4.26 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

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

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.33%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.