Enbridge Inc. (NYSE:ENB) Stake Lifted by Capital Wealth Planning LLC

Capital Wealth Planning LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 98.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,199 shares of the pipeline company's stock after purchasing an additional 51,619 shares during the quarter. Capital Wealth Planning LLC's holdings in Enbridge were worth $4,421,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ENB. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in shares of Enbridge in the 3rd quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the fourth quarter worth about $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.05 on Monday, reaching $42.68. 4,910,516 shares of the company were exchanged, compared to its average volume of 4,420,203. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $93.00 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company's 50-day moving average is $43.44 and its two-hundred day moving average is $42.04.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the business posted $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were paid a $0.67 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.28%. Enbridge's payout ratio is currently 155.81%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.00.

About Enbridge

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.