Enbridge Inc. (NYSE:ENB) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 70.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,296,374 shares of the pipeline company’s stock after acquiring an additional 536,818 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $52,648,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after buying an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after buying an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after buying an additional 2,668,692 shares during the last quarter. National Bank of Canada FI increased its holdings in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after buying an additional 1,472,789 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $43.57 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a 50 day simple moving average of $42.51 and a 200-day simple moving average of $40.23. The company has a market cap of $94.91 billion, a PE ratio of 20.17, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.15%. Enbridge’s dividend payout ratio is presently 124.07%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus price target of $63.00.

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.