Bourne Lent Asset Management Inc. Acquires 14,910 Shares of Enbridge Inc. (NYSE:ENB)

Bourne Lent Asset Management Inc. raised its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 21.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,349 shares of the pipeline company's stock after purchasing an additional 14,910 shares during the quarter. Enbridge accounts for about 1.3% of Bourne Lent Asset Management Inc.'s investment portfolio, making the stock its 14th biggest holding. Bourne Lent Asset Management Inc.'s holdings in Enbridge were worth $3,536,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ENB. Dimensional Fund Advisors LP boosted its position in shares of Enbridge by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company's stock valued at $86,399,000 after buying an additional 25,717 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Enbridge by 6.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company's stock valued at $489,000 after acquiring an additional 861 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of Enbridge by 9.4% in the second quarter. AE Wealth Management LLC now owns 57,461 shares of the pipeline company's stock worth $2,045,000 after acquiring an additional 4,937 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Enbridge by 4.9% during the second quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company's stock valued at $1,346,000 after purchasing an additional 1,766 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in Enbridge by 7.2% during the second quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company's stock valued at $5,054,000 after purchasing an additional 9,200 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ENB. Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Enbridge has a consensus rating of "Hold" and an average target price of $63.00.

Enbridge Stock Performance

NYSE ENB traded down $0.54 on Wednesday, hitting $44.77. 4,314,920 shares of the company traded hands, compared to its average volume of 4,060,169. The business's 50 day moving average price is $42.85 and its 200-day moving average price is $40.73. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. 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 company has a market capitalization of $97.53 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for 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 quarter last year, the company earned $0.46 earnings per share. Equities analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company 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 $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.99%. 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.